The crypto and blockchain industry in Hong Kong has significantly expanded over the past two years. A new report by InvestHK and its partners showed that the number of blockchain application and software companies in the city has increased by 250% since 2022.
Hong Kong Emerges as a Fintech Hub
Hong Kong has emerged as a leading financial hub, ranking first in Asia-Pacific and third globally in the Global Financial Centers Index. The city houses 175 blockchain companies, making it a major player in fintech. The government has been investing in fintech since 2015, which has facilitated its growth. Artificial intelligence plays a significant role in the fintech industry, with over 73% of fintech companies in Hong Kong utilizing AI in their operations. Many companies in the region have joined innovation programs to develop new ideas. Experts predict that Hong Kong’s fintech market revenue could reach $606 billion by 2032.
Clear Crypto Regulations in Hong Kong
The growth of blockchain and fintech in Hong Kong is driven by government efforts to support businesses. In October 2022, the Financial Services and the Treasury Bureau introduced policies recognizing the value of virtual assets and blockchain technology, which helped the crypto sector grow by nearly 30%. In June 2023, authorities established a new licensing system for virtual asset trading platforms to ensure fair regulations. By February 2025, Hong Kong had 10 licensed platforms, with eight more awaiting approval.
Strengthening Digital Asset Market in Hong Kong
Hong Kong has made significant strides to become a leader in the crypto industry. In December 2022, it launched Asia’s first Bitcoin and Ethereum futures ETFs. Following this, the region issued the world’s first tokenized green bond in February 2023, with another issuance in February 2024. In April 2024, Hong Kong regulators made history again by launching the first spot Bitcoin and Ethereum ETFs in Asia. Hong Kong is not slowing down. In February 2025, the Securities and Futures Commission introduced a 12-step plan called ASPIRe, vowing to remain open to digital assets. These moves have attracted investors and institutions seeking to invest in digital finance under clear regulations.
The growth of Hong Kong's crypto industry is supported by governmental initiatives and active innovation in the fintech and blockchain sectors, making the city a key player on the global digital asset stage.
