Last week, Hong Kong successfully hosted an eye-catching Web3 Carnival, becoming the focus of Web3 enthusiasts around the world. This event not only provides a variety of activities, but also various off-site exchanges and parties, demonstrating its influence and charm on the Asian Web3 stage. This event in Hong Kong is undoubtedly one of the most watched events in its history.
Hong Kong has always been an important hub for the development of Web3 in Asia. Compared with South Korea and Singapore, its activity in the field of blockchain technology and applications is particularly eye-catching. Hong Kong has not only established a strict regulatory framework, but has also successfully attracted more than 220 Web3-related companies to set up offices. Recently, Hong Kong's efforts have made significant progress in the research and development of Bitcoin ETFs, which are not only expected to enrich the product line of the local stock market, but may also attract more retail and institutional investors, further increasing the market value of Bitcoin.
In terms of project development, Hong Kong has also implemented a strict regulatory system for centralized exchanges, requiring centralized exchanges to obtain relevant licenses. Well-known exchanges such as OKX, Bybit and crypto.com are also actively deploying in Hong Kong.
In terms of market supervision, Hong Kong has strict requirements for centralized exchanges, ensuring that all operators must obtain formal licenses. Currently, a number of well-known trading platforms, including OSL Exchange and HashKey Exchange, have been approved to operate in Hong Kong. Especially HashKey Exchange, since its launch in August 2023, its transaction volume has exceeded HK$370 billion, and the number of registered users has reached 170,000. What is even more striking is that Vitalik Buterin, the founder of Ethereum, recently publicly stated in Hong Kong that he has become a user of HashKey Exchange Global, which undoubtedly increases the platform’s exposure and credibility. In addition, HashKey has launched innovative products such as HashKey Capital and HashKey Cloud to actively promote the development of the Web3 ecosystem.
As Hong Kong continues to promote and implement Web3-related plans, its leading position in the global Web3 field will be further consolidated. Looking to the future, Hong Kong’s innovation journey in Web3 is still full of unlimited potential and opportunities.
