More consolidation likely for fintech players in Hong Kong and mainland China

Hong Kong is home to more than 600 fintech companies and start-ups, including eight unicorns. PHOTO: REUTERS
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HONG KONG - Further consolidation could be on the cards for the fintech industry in Hong Kong and mainland China in the next 12 months amid greater scrutiny by regulators, and digital currency could be a bright spot, some players say.

Mr David Rosa, co-founder and chief executive of digital payment services fintech firm Neat expects mergers to grow "by quite a bit" as regulators move to plug loopholes and maintain financial sustainability even as firms are more focused on user experience.

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