• 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

CasinOK Integrates Lightning Network for Fast Bitcoin Transactions

chest

CasinOK integrates the Lightning Network for fast Bitcoin transactions, allowing execution within 32 seconds and reducing gas fees.

user avatarAisha Farooq

Bybit Launches AED Fiat Referral Boost with 7,500 USDT Prize Pool

chest

Bybit launches AED Fiat Referral Boost with a 7,500 USDT prize pool to incentivize deposits and referrals.

user avatarTenzin Dorje

Bybit Enhances USDC Trading Ecosystem with New Fee Structure

chest

Bybit announces significant enhancements to its USDC trading ecosystem, including an optimized fee structure and liquidity improvements for spot and futures trading pairs, effective March 23, 2026.

user avatarBayarjavkhlan Ganbaatar

Fidelity Digital Assets Makes Case for Bitcoin in Institutional Portfolios

chest

Fidelity Digital Assets has published a research report advocating for the inclusion of bitcoin in institutional investment portfolios, emphasizing its historical performance and the need for a rationale for maintaining a zero position.

user avatarMohamed Farouk

Mortgage Rates Remain Elevated, Affecting Homebuyers

chest

Mortgage rates remain high, affecting affordability and buyer behavior in the housing market.

user avatarElias Mukuru

Ethereum Struggles with Resistance as US-Iran Tensions Rise

chest

Ethereum is facing key resistance at the realized price of 2,306, with potential risks of dropping below 2,000 due to ongoing US-Iran tensions.

user avatarDiego Alvarez

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.