• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Hong Kong's Cyberport attracts over 270 blockchain firms in Web3 and digital transformation drive

user avatar

by Giorgi Kostiuk

a year ago

Hong Kong's Cyberport, a government-run business hub, has increased its blockchain company network to over 270.

Development of Cyberport and Web3 Support

The Legislative Council of Hong Kong released a paper highlighting Cyberport's efforts in developing Web3, crypto, and blockchain ecosystems. The government allocated $50 million for Cyberport support in the 2023-24 budget. By June 2023, Cyberport hosted over 150 Web3 firms.

Real-world Applications of Blockchain Technology

Cyberport companies have started implementing blockchain for real-life applications including smart living, digital entertainment, fintech, and cyber security. Cyberport is actively recruiting firms specializing in security, asset custody, and crypto wallets.

The founders of these over 270 enterprises originate from over 20 countries and regions, including Japan, Korea, the US, Canada, Germany, the UK, and India, in addition to Hong Kong and Mainland China.

Licensing of Crypto Exchanges in Hong Kong

Hong Kong's financial regulator, the Securities Futures Commission (SFC), plans to issue licenses to crypto exchanges by the end of 2024. SFC CEO Julia Leung stated that the government will 'make progress' in issuing licenses to 11 Virtual Asset Trading Platforms that have applied.

Hong Kong continues to advance digital technologies and strengthen its position in the Web3 market, integrating blockchain across various sectors and expanding its digital company network.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

The Rise of Esports Betting with Crypto

chest

Esports betting has rapidly evolved into a significant market, with crypto becoming a preferred payment method due to its speed and flexibility.

user avatarRajesh Kumar

Dexsport: A Leading Platform for Esports Crypto Betting

chest

Dexsport has emerged as a strong option for esports bettors, offering a seamless experience for betting on CSGO and Dota 2.

user avatarJesper Sørensen

Rob Hadick Optimistic About Crypto's Future

chest

Rob Hadick, a general partner at Dragonfly, shares his optimistic outlook on the future of cryptocurrencies, emphasizing trends in stablecoins and prediction markets despite recent market volatility.

user avatarLucas Weissmann

Hadick Highlights Growth in Stablecoins and Prediction Markets

chest

Rob Hadick predicts significant growth in stablecoins and prediction markets, citing recent data and trends.

user avatarFilippo Romano

Ethereum Holdings Revised to 580,000 ETH by Trend Research

chest

On December 25, onchain analyst Ai Yi announced a revision of Ethereum holdings for Trend Research, now confirmed to be 580,000 ETH across six addresses.

user avatarEmily Carter

Bitcoin's Supply Structure Gives It an Edge Over Gold

chest

Market analysts argue that Bitcoin's fixed supply and halving cycles provide a fundamental advantage over gold as a store of value.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.