Hong Kong’s Web3.0 Association: Bolstering Support for Overseas Companies

According to reports, the Hong Kong Web3.0 Association was established on the 11th, according to the Hong Kong China News Agency. In addition to relevant associations, Hong Kong will also establish a Web3Hub fund to support more overseas Web3.0 companies to settle in Hong Kong. The fund will be chaired by the Financial Secretary of Hong Kong, Chen Maobo, and will be managed by a management committee composed of experts from various fields such as fintech, blockchain, and cryptocurrency. The fund will collaborate with institutions such as the Hong Kong Science and Technology Park and the Innovation and Technology Department to provide one-stop services for overseas Web3.0 enterprises. It is reported that the fund has received applications for multiple Web3.0 projects from the United States, Europe, Singapore, and other regions, covering areas such as decentralized finance (DeFi), non homogeneous tokens (NFT), metaverse, and decentralized social media (Dsocial). The fund plans to start investing and supporting these projects in the second half of this year.

Hong Kong to establish Web3Hub Fund, chaired by Chen Maobo

The establishment of the Hong Kong Web3.0 Association marks a significant milestone in expanding the tech industry’s footprint in the region. With a new Web3Hub fund set up to encourage overseas companies’ expansion into Hong Kong, the city could emerge as a hub for Web3.0 projects. In this article, we will delve into the details of the Web3.0 Association and the Web3Hub fund’s plans to provide the necessary infrastructure and support for a thriving ecosystem of Web3.0 companies.

The Hong Kong Web3.0 Association

On the 11th of November, the Hong Kong Web3.0 Association was established to foster and promote the development of the Web3.0 industry in Hong Kong. The association brings together experts and professionals from various fields such as fintech, blockchain, and cryptocurrency. The association aims to provide a platform for companies to share knowledge, network and explore new ventures.

The Web3Hub Fund

The Web3Hub fund is a crucial element of the Web3.0 Association, serving as a catalyst for overseas companies’ expansion into Hong Kong. The fund’s management committee, comprising experts from multiple fields, will provide one-stop services for overseas Web3.0 enterprises. The fund aims to support overseas companies entering the Hong Kong market by assisting with legal, regulatory, financial, and operational issues necessary for these companies to thrive.
The fund has already received numerous applications from Web3.0 projects in different regions worldwide, such as the United States, Europe, and Singapore. These projects cover a wide range of areas, such as decentralized finance (DeFi), non-homogeneous tokens (NFTs), metaverse, and decentralized social media (Dsocial). The Web3Hub fund plans to start investing and supporting these projects in the latter half of this year.

Benefits of the Web3.0 Association and Web3Hub Fund

The establishment of the Hong Kong Web3.0 Association and Web3Hub fund marks a significant opportunity for overseas Web3.0 firms looking to expand into Asia. Hong Kong’s strategic location, strong financial market, and diverse economic environment are all factors that make it an attractive hub for Web3.0 projects. Additionally, the government’s support and commitment to strengthening and advancing the tech industry further underscore Hong Kong’s position as a leading global player for Web3.0.
By providing a platform for experts and professionals to network, the Web3.0 Association aims to stimulate innovation and entrepreneurial activity within the tech sector. Further, the fund’s services and support for overseas companies’ entry into Hong Kong could lead to increased business opportunities and growth for both foreign and domestic firms.

Conclusion

The establishment of the Hong Kong Web3.0 Association and its Web3Hub fund plans herald a new era for the Web3.0 industry in Asia. Hong Kong’s strategic location, established financial market, and diverse economy create a promising environment for tech companies, especially those specializing in the Web3.0 sector. The Web3.0 Association and the Web3Hub fund could be influential in attracting overseas companies to expand their business activities in Hong Kong.

FAQs

1. What is the Hong Kong Web3.0 Association?
The Hong Kong Web3.0 Association is an organization established to promote and support the development of the Web3.0 industry in Hong Kong.
2. What are the goals of the Web3Hub fund?
The Web3Hub fund provides one-stop services to assist overseas Web3.0 enterprises in regulatory, legal, financial, and operational issues required to thrive in Hong Kong.
3. What kind of Web3.0 projects is the fund interested in supporting?
The Web3Hub fund is interested in supporting projects involving metaverse, non-homogeneous tokens (NFTs), decentralized finance, and decentralized social media, among others.