• 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

Binance Compensates Users After Major Flash Crash

chest

Binance compensates users with over $328 million and establishes a $300 million recovery fund following the October 11, 2025 flash crash.

user avatarKofi Adjeman

Pi Network Community Optimistic About Future Developments

chest

Despite the recent price drop, the Pi Network community is optimistic about the future and potential developments.

user avatarSatoshi Nakamura

Pi Network's Token Hits Another All-Time Low Amid Market Correction

chest

Pi Network's native token has reached a new all-time low following a significant market correction.

user avatarNguyen Van Long

Miroslav Lajk Resigns as Slovakia's National Security Adviser Amid Epstein Revelations

chest

Miroslav Lajk has resigned as Slovakia's National Security Adviser after text exchanges with Jeffrey Epstein were revealed, discussing young women.

user avatarJesper Sørensen

Dropee Introduces Daily Question Feature to Engage Players

chest

Dropee introduces a daily interactive quiz feature on Telegram to engage players.

user avatarRajesh Kumar

Nvidia's CEO Clarifies Investment Plans in OpenAI

chest

Nvidia's CEO Jensen Huang clarifies that the company has not made a firm commitment to invest $100 billion in OpenAI, stating it was merely a potential upper limit for consideration.

user avatarLucas Weissmann

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.