Hong Kong could benefit from Singapore’s recent move to oust unlicensed cryptocurrency companies, according to analysts, potentially leading to a significant injection of liquidity. On May 30, the Monetary Authority of Singapore instructed cryptocurrency firms incorporated in the city and offering services abroad to acquire a licence or leave the country. Singapore’s central bank subsequently…
Ant Digital Technologies, the technology arm of Ant Group, has chosen Hong Kong for its international headquarters in a show of commitment to artificial intelligence (AI) and Web3 technologies, the unit announced on Tuesday. The subsidiary cited Hong Kong’s role as a “bridgehead” for its global strategy. The company plans to establish joint laboratories with…
A Hong Kong lawmaker urged global investors to maintain confidence in the city’s Web3 industry after cryptocurrency mogul Justin Sun denounced alleged “loopholes” in local financial regulations. Hong Kong had “a legal basis and a healthy environment” to protect international investors and the city’s Web3 sector, Legislative Council member Johnny Ng Kit-chong wrote on Thursday…
A Hong Kong lawmaker urged global investors to maintain confidence in the city’s Web3 industry after cryptocurrency mogul Justin Sun denounced alleged “loopholes” in local financial regulations. Hong Kong had “a legal basis and a healthy environment” to protect international investors and the city’s Web3 sector, Legislative Council member Johnny Ng Kit-chong wrote on Thursday…
Crossmint has raised $23.6 million to continue expanding its solutions that help companies and developers build blockchain applications. The company’s platform enables users to build blockchain applications with a few lines of code and deploy wallets, tokenization, payments, onchain credentials and other building blocks for apps, Crossmint said in a Tuesday (March 18) press release. The…
Tencent Holdings-backed online lender WeBank is leveraging its new Hong Kong subsidiary to tap the city’s expanding Web3 market, according to a company executive, as the financial hub continues its pursuit to establish itself as a virtual asset hub. WeBank Technology Services, launched this month, plans to be “deeply involved” in developing the city’s Web3…
Tencent Holdings-backed online lender WeBank is leveraging its new Hong Kong subsidiary to tap the city’s expanding Web3 market, according to a company executive, as the financial hub continues its pursuit to establish itself as a virtual asset hub. WeBank Technology Services, launched this month, plans to be “deeply involved” in developing the city’s Web3…
“Trump’s pro-crypto stance is expected not only to invigorate the US virtual-asset industry, but also to encourage Hong Kong to further relax its own virtual-asset policies in its quest to become a global Web3 hub,” said Livio Weng, chief executive of Hong Kong-based cryptocurrency trading platform HashKey Exchange. “This shift could also positively influence regulatory…
Jeremy Allaire, CEO of the USDC stablecoin issuer Circle, said Hong Kong is becoming an increasingly important market for settlements as stablecoins become a critical part of that infrastructure. “In emerging and developing markets … there are importers who are importing out of Asia, and a lot of the trade flow is settled through Hong…
Artificial intelligence is expected to outshine Web3 at this year’s FinTech Week, which kicks off at the end of the month, as organisers InvestHK and Finoverse tease a slate of mainland Chinese exhibitors looking to ride the generative AI wave. “[There is] a huge increase in mainland Chinese companies’ representation at this year’s event ……