• 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

MegaETH Mainnet Beta to Enhance Ethereum Scaling Options

chest

The upcoming launch of the MegaETH mainnet beta next week is set to contribute positively to Ethereum's scaling narrative.

user avatarMohamed Farouk

MegaETH Mainnet Beta Frontier Launch Set for Next Week

chest

The MegaETH mainnet beta is launching next week, offering developers a new platform to deploy scalable applications.

user avatarElias Mukuru

Bithumb Suspends Ethereum Transactions for Network Hard Fork

chest

Bithumb has announced a temporary suspension of deposits and withdrawals for Ethereum and related assets to facilitate a network hard fork.

user avatarDiego Alvarez

ZenLedger's Automation Enhances Sui Tax Reporting Efficiency

chest

ZenLedger's automation streamlines tax reporting for Sui users by fetching transfers, calculating gains and losses, and generating forms, reducing errors and saving time.

user avatarKenji Takahashi

Dogecoin Faces Pressure Below Key Moving Averages

chest

Dogecoin's price is under pressure as it trades below key moving averages and has lost a rising trendline.

user avatarMaria Fernandez

Dogecoin Trading Near Long-Term Support Band

chest

Dogecoin is currently trading at a critical support level defined by the monthly Ichimoku cloud, according to analyst Cantonese Cat.

user avatarGustavo Mendoza

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.