The focus of Web3 financial transactions has shifted eastward, and Hong Kong’s new policy has led to a new round of encryption competition

Huobi will officially launch Huobi HK, and is ready to provide users with a variety of cryptocurrency trading services. It is reported that starting from June 1, users can buy, sell and hold mainstream cryptocurrencies including BTC, ETH and other major cryptocurrencies listed in independent indexes through Huobi HK. Others such as OKX and Binance have also made positive moves, and a new encryption competition is coming.

outlook

In addition to the new regulations on June 1, the most important thing this year is the Hong Kong Monetary Authority's public launch of the Digital Hong Kong Dollar Pilot Program. 16 financial leaders from the financial, payment and technology industries will conduct their first round of trials within this year to conduct in-depth research on " "Cyber Hong Kong Dollar" has potential use cases in six areas, which cover comprehensive payment, programmable payment, offline payment, tokenized deposit, third-generation Internet (Web3) transaction statistics and tokenized asset statistics. If the digital Hong Kong dollar advances smoothly, it is likely to revive Hong Kong’s status as an international financial center and attract a large number of Web3 talents, projects, and landing RWA; blockchain technology will thus achieve a wider range of use cases, and the encryption market may be realized by then. real prosperity.