• 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

Clarity Act Draft Expected to Transform Crypto Regulation

chest

The upcoming Clarity Act draft aims to provide a clear regulatory framework for digital assets in the U.S.

user avatarKaterina Papadopoulou

Jonathan the Tortoise Declared Alive After Death Hoax

chest

An imposter X account claimed Jonathan the Tortoise had died, leading to widespread media coverage based on false information.

user avatarMaya Lundqvist

Bitcoin Cash Focuses on Fast Transactions for Everyday Use

chest

Bitcoin Cash aims to provide fast and affordable transactions, making it suitable for real-world payments.

user avatarLi Weicheng

Aave Approaches $15 Billion in Deposits on Mantle

chest

Aave is witnessing a significant rise in activity on the Mantle platform, with deposits rapidly nearing the $15 billion threshold, showcasing increasing trust in Layer 2 ecosystems.

user avatarLeo van der Veen

Challenges and Future of Ireland's Digital Wallet Initiative

chest

Experts highlight potential challenges in adoption and public trust for the digital wallet.

user avatarAisha Farooq

Ireland's Digital Wallet Pilot Addresses Youth Mental Health Concerns

chest

Ireland's Digital Wallet Pilot addresses youth mental health concerns by enforcing age restrictions online to protect minors from harmful content.

user avatarMohamed Farouk

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.