BlockBeats reported on April 14th that Hong Kong Financial Secretary Paul Chan stated during his participation in the 2023 Digital Economy Summit that the emergence of Web3 is sparking a new wave of innovation in fintech. Five years ago, Hong Kong had only about 180 fintech companies, but now there are over 800 related enterprises, including cross-border financial services and blockchain services. Virtual assets, stablecoins, DeFi, NFTs, and other technologies will become the main driving force for financial transformation in the coming years, which is an irreversible trend. However, at the same time, some important issues have arisen, such as whether there are regulatory loopholes, whether they will transmit risks to the traditional financial system, and how to best protect individual investors from fraud and scams. Chan stated that in promoting Web3, virtual assets, and other financial innovations, the Hong Kong government will continue to strike an appropriate balance between regulation and convenience. The government is committed to creating a favorable environment for the flourishing development of fintech companies.

On April 14th, BlockBeats reported that Mr. Kelvin Wong, CEO of Hong Kong Web3Hub Foundation, delivered a speech at the "MetaEra x BitMart Forum: Where are the Opportunities for Metaverse" in the sub-forum of the "2023 Hong Kong Web3 Carnival". He announced the launch of a $100 million Web3 ecological fund, based in Hong Kong, to invest in global projects and promote the development of global Web3 standards. In addition, in the previously announced Hong Kong $10 million Web3Hub Ecological Accelerator, $1 million will be invested in the first phase to support entrepreneurs. The application period is from April 14th to May 14th. In the past two months, 350 Web3 companies have registered in Hong Kong, with 100 strategic partners, and it is expected to create more than 1,000 job opportunities. Witnesses of the founding ceremony included Mr. Zhang Guojun, Deputy Secretary-General of the Department of Justice of Hong Kong SAR, Mr. Wu Jiezhuang, Member of the Legislative Council of Hong Kong SAR, Mr. Kelvin Wong, CEO of Hong Kong Web3 Hub Fund, Mr. Chan Chun-ying, Member of the Legislative Council of Hong Kong SAR, Ms. Claudia Mo, Member of the Legislative Council of Hong Kong SAR, Mr. Wong Kam-sing, Member of the Legislative Council of Hong Kong SAR, Mr. Charles Mok, Member of the Legislative Council of Hong Kong SAR, Mr. Peter Yan, CEO of Hong Kong Science and Technology Park, YT Tsoi, Managing Partner of Web3Hub, Kong Jianping, founder of Nano Labs, Sheldon, founder and CEO of BitMart, and Alfred Xu, co-founder of MultiChain.

BlockBeats News, on April 14th, at the "2023 Hong Kong Web3 Carnival" sub-forum four "MetaEra x BitMart Special Session: Where are the opportunities for Metaverse", Hong Kong Deputy Secretary-General of the Department of Justice, Zhang Guojun, delivered a speech announcing the launch of the Hong Kong Web3Hub Ecological Fund, with a scale of 10 million US dollars, which will encourage more enterprises to settle in Hong Kong. Combining blockchain skills and artificial intelligence to provide a convenient and cost-effective security platform, looking forward to the future, Hong Kong needs to better develop the unique advantages of "one country, two systems" with technology innovation driving high-quality development in Hong Kong, while attracting talents from home and abroad.

BlockBeats reported on April 13th that Carrie Lam, the Chief Executive of the Hong Kong Special Administrative Region government, announced that the fiscal budget for this year will allocate over HKD 700 million to accelerate the development of the digital economy, and over HKD 9 million to launch a series of international initiatives and measures. She emphasized that she will promote the development of Hong Kong's virtual asset industry, and that the third generation of the Internet represented by Web3.0 has great potential for development. (Pengpai)

BlockBeats reported on April 12th that OKX's CEO, Hong, believes that regulation and licensing are key to the future success of the cryptocurrency and Web3 industries. Moderate regulation and government support are beneficial for fair competition, as well as better protection for users and promoting healthy market development. She stated that Hong Kong is becoming a global leader in digital assets and fintech, and OKX will actively seek licenses in this jurisdiction. The team has already started applying for the Hong Kong VASP license under the new regulatory regime in March, as well as applying for Type 1 and Type 7 licenses under the Securities and Futures Ordinance.

According to BlockBeats news on April 12th, Ronald Iu, CEO of ZA Bank in Hong Kong, stated in an interview on Tuesday that ZA Bank will provide exchange services for cryptocurrencies to fiat currency through a licensed trading platform. As the settlement bank for customers, ZA Bank will allow them to deposit cryptocurrencies on the trading platform and withdraw in Hong Kong, mainland China, and the United States. Ronald Iu also stated that this business model has already been operating with HashKey and OSL, which are the only two licensed cryptocurrency trading platforms in Hong Kong. ZA Bank will also provide the same services to other licensed trading platforms.

BlockBeats News, on April 12th, OKX President Hong attended the Web3 Hong Kong Carnival Summit and publicly announced that the global users of OKX had exceeded 50 million and the platform had accumulated assets of more than 20 billion US dollars, making it one of the most trusted cryptocurrency platforms by users. Since November last year, OKX has insisted on publishing monthly platform reserve proof. According to its fifth monthly reserve proof report (Proof-of-Reserves, referred to as PoR), OKX currently holds a total value of 8.9 billion US dollars in Bitcoin, Ethereum, and USDT.