• 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

Key Issues Stalling US Crypto Bill Negotiations

chest

Key issues stalling US crypto bill negotiations include ethics rules, stablecoins, and SEC jurisdiction.

user avatarAisha Farooq

US Crypto Bill Faces Delay Until January

chest

A critical piece of legislation that could define the future of digital assets in America has hit a significant roadblock, with the US crypto bill likely not seeing a vote until January due to major disagreements among lawmakers.

user avatarTenzin Dorje

Significant Bitcoin Long Position Emerges on Trading Platform

chest

A significant leveraged long position worth $93 million appeared on a derivatives trading platform, indicating strong market activity.

user avatarBayarjavkhlan Ganbaatar

Solana's Unique Technology and Features

chest

Solana utilizes a unique mechanism called Proof of History (PoH) combined with Proof of Stake (PoS) to confirm transactions efficiently.

user avatarMohamed Farouk

Singapore Gulf Bank Partners with Fireblocks for Secure Digital Custody

chest

Singapore Gulf Bank has partnered with Fireblocks to ensure the security of digital transactions and protect client funds using advanced cryptography.

user avatarElias Mukuru

Apeing Emerges as a Promising 100x Meme Coin Opportunity

chest

Apeing is gaining attention as a potential 100x meme coin due to its limited whitelist access and structured pricing.

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.