Hong Kong Creates Web3Hub Fund to Attract Web3.0 Firms

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 Hong Kong Web3.0 Association was recently established on the 11th, in addition to forming a Web3Hub fund to assist more overseas Web3.0 companies to settle in Hong Kong. Hong Kong’s Financial Secretary, Chen Maobo, will chair the fund, which involves a management committee consisting of experts from various fields like blockchain, fintech, and cryptocurrency. The fund will actively collaborate with organizations such as the Hong Kong Science and Technology Park and the Innovation and Technology Department to provide one-stop services to overseas Web3.0 enterprises.

What is the Hong Kong Web3Hub Fund?

The Web3Hub fund aims to support more overseas Web3.0 companies to settle down in Hong Kong. The fund has received many applications, including a variety of Web3.0 projects from different regions, including the United States, Europe, Singapore, among others. The applications cover different areas such as decentralized finance (DeFi), non homogeneous tokens (NFT), metaverse, and decentralized social media (Dsocial).

How Will the Web3Hub Fund Work?

The Web3Hub fund will collaborate with institutions like the Hong Kong Science and Technology Park and the Innovation and Technology Department to provide one-stop services for overseas Web3.0 enterprises that are seeking assistance with business registration, talent recruitment, funding and financing, and other support services.
The management committee comprises highly skilled professionals from various industries, including blockchain, fintech, and cryptocurrency. The committee will actively assist companies with investment, legal, business, marketing, and technical support, among other things.

Why Hong Kong?

Hong Kong has been a hub for international finance and commerce for decades. With its strategic location, sound legal system, and strong financial markets, Hong Kong is a perfect place for overseas Web3.0 enterprises seeking to establish a base in Asia. Hong Kong is actively embracing innovation and new technology, and its government has allocated a significant amount of resources and funding to support technological advancements such as blockchain technology and decentralized finance.

Conclusion

The establishment of the Hong Kong Web3.0 Association and the Web3Hub fund marks a pivotal moment for the blockchain and cryptocurrency industry. With a strong commitment and support from the Hong Kong government, overseas Web3.0 companies will be able to gain access to a new frontier in Asia’s technological landscape. This fund can attract many innovative projects and foster a vibrant blockchain and cryptocurrency ecosystem in Hong Kong that can provide significant opportunities for investors and entrepreneurs.
# FAQs:
1. What is the purpose of the Web3.0 Association in Hong Kong?
The purpose of the Web3.0 Association is to promote the development of Web3.0 companies in Hong Kong.
2. Why is Hong Kong an attractive location for Web3.0 companies?
Hong Kong offers a strong legal framework, a strategic location, and an established financial markets infrastructure. Moreover, Hong Kong’s government is actively encouraging innovation and technology.
3. What areas of Web3.0 does the Web3Hub fund support?
The Web3Hub fund supports projects in areas such as decentralized finance (DeFi), non homogeneous tokens (NFT), metaverse, and decentralized social media (Dsocial).