Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»ADOPTION NEWS»HKMA releases statistics on stored value facility plans for Q1 2024
ADOPTION NEWS

HKMA releases statistics on stored value facility plans for Q1 2024

By Crypto FlexsJune 23, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
HKMA releases statistics on stored value facility plans for Q1 2024
Share
Facebook Twitter LinkedIn Pinterest Email





The Hong Kong Monetary Authority (HKMA) has released first quarter 2024 statistics for the Stored Value Facility (SVF) scheme, according to the HKMA. These statistics provide valuable insight into the usage and transaction volume of SVF accounts issued by licensed operators.

Key Statistics and Growth

By the end of the first quarter of 2024, the total number of SVF accounts in use reached 73.58 million, an increase of 3.0% from the previous quarter. The total number of SVF transactions in this period was approximately 1.9 billion, a decrease of 4.0% compared to the fourth quarter of 2023. Despite the decline in trading volume, total SVF transaction value increased 1.0% to HK$166.1 billion.

The details of the total transaction amount are as follows.

  • POS spend payments: HK$42.8 billion
  • Online spending payments: HK$25.2 billion
  • Peer-to-Peer fund transfers: HK$14.2 billion
  • Value-added transactions: HK$83.9 billion

Additionally, total liquid assets and SVF deposits at the end of the first quarter of 2024 were HK$17.5 billion, up 1.4% from the previous quarter.

Year-on-year comparison

Comparing year-over-year data, the total number of SVF accounts in use by the end of Q1 2024 was 16.9% higher than Q1 2023. Total liquid and SVF deposits also increased by 9.7%. In the first quarter of 2024, the number and amount of SVF transactions increased by 5.5% and 19.9%, respectively, compared to the same period last year.

Notes and Definitions

The HKMA states that “total number of SVF accounts in use” means the total number of SVF accounts in operation at the end of the reporting period. The terms “float” and “SVF Deposit” are defined under the Payment Systems and Stored Value Facilities Ordinance.

The HKMA’s publication of these statistics is part of its ongoing efforts to maintain transparency and provide stakeholders with up-to-date information on the performance and adoption of Hong Kong’s SVF scheme.

Image source: Shutterstock



Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025

As you challenge the mixed technology signal, OnDo Price Hovers challenges the August Bullish predictions.

August 7, 2025

XRP Open Interests decrease by $ 2.4B after recent sale

July 30, 2025
Add A Comment

Comments are closed.

Recent Posts

Ether ETF is a comeback of $ 280 million, with bitcoin leaked stripes hit on the 5th.

August 22, 2025

Will Cardano (ADA) step back and push the bear back low?

August 22, 2025

Partner relationship with SBI HOLDINGS to distribute RLUSD Stablecoin

August 22, 2025

MetaWin Announces “MetaWin Create” – Free AI Tools For All MetaWinners NFT Holders

August 22, 2025

A new era of encryption? A Doj official says that a developer with a good intention is not a goal.

August 22, 2025

ESCAPE Presale Live On Ethereum With $280K Raised, Hacken Audited And SolidProof KYC Verified

August 21, 2025

WhalePlay Beta Launch: Next-Level Social IGaming Platform

August 21, 2025

Hyra Network Wins Prestigious Chairman’s Award 2025 At WITSA Global AI Summit

August 21, 2025

Since the leakage is not over, the price of Stellar (XLM) is faced with a fall.

August 21, 2025

2025-26 discussions about which coins will be ranked first in Memecoin Cycle

August 21, 2025

Buyback And Burn Of $MBG Unveiled As MultiBank Group Posts $209M H1 Revenue

August 20, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Ether ETF is a comeback of $ 280 million, with bitcoin leaked stripes hit on the 5th.

August 22, 2025

Will Cardano (ADA) step back and push the bear back low?

August 22, 2025

Partner relationship with SBI HOLDINGS to distribute RLUSD Stablecoin

August 22, 2025
Most Popular

Hodler’s Digest, July 7-13 – Cointelegraph Magazine

July 14, 2024

Shiba Inu: Why Whales Will Decide SHIB’s Next Rally

October 18, 2024

Metaplanet reveals $1.6 million Bitcoin purchase, shares rise 10%

June 11, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.