HONG KONG, Aug. 3, 2023 /PRNewswire/ — 21st Century Business Herald, a member of the Southern Finance Omnimedia Corporation, and the HashKey Group successfully hosted a seminar on the theme of “Where Web3 Becomes Real: An Outlook on Asia’s Digital Asset Landscape” in Hong Kong today.
Focusing on the topics of compliance and the future outlook, the seminar invited Mr. Joseph Chan Ho-lim, Under Secretary for Financial Services and the Treasury of Hong Kong SAR, Prof. WANG Yang, Vice-President for Institutional Advancement of the Hong Kong University of Science and Technology (HKUST), Mr. LEUNG Hong King, Head of Financial Services and Fintech, InvestHK of the Hong Kong SAR Government, Mr. Livio Weng, Chief Operating Officer of HashKey Group, Mr. Eric Zhu, Chief Financial Officer of HashKey Group, Mr. Duncan Chiu, Legislative Council Member (Technology & Innovation Constituency), and Mr. Augustine Fan, Partner and CFO of SignalPlus, as well as other experts to attend the event. There were in-depth discussions on topics such as the opportunities and challenges for Hong Kong to become an international virtual asset center, how Hong Kong’s universities can embrace the new wave of virtual assets, compliant trading of digital assets in Asia, and the opportunities and challenges of digitization of physical assets.
Ms. Yu Xiaona, Editorial Board Member of Southern Finance Omnimedia Corporation, said in her opening speech, “In recent years, with the promotion and application of blockchain technology, virtual assets have entered a new stage of development. Government regulators and market participants have become commonly concerned about how to promote the healthy and compliant development of virtual assets.”
With the development of cryptocurrency and digital asset markets, the global regulatory landscape has become increasingly complex. To safeguard market stability and investors’ rights and interests, regulators in various countries have imposed more stringent regulations on cryptocurrency trading and digital assets. In this context, Hong Kong, as an international financial centre, is also actively seeking a compliance framework for digital assets and exploring ways toward the sound development of digital economy. To this end, Mr. Joseph Chan, Under Secretary for Financial Services and the Treasury of Hong Kong, delivered a keynote speech entitled “Opportunities and challenges for Hong Kong to Become an International Virtual Asset Centre”. Joseph Chan pointed out, “Hong Kong has to seize the opportunity to take forward the development of Web3 on the premise of proper investor protection. The HKSAR Government will continue to adopt the ‘same activity, same risks, same regulation’ principle, so that Web3 can develop in a sustainable and responsible manner under an appropriate regulatory framework, thereby enabling financial innovation to serve the real economy,”, in his opinion, “We are committed to the sustainable development of financial services along the entire virtual asset value chain, including virtual asset issuance, tokenisation, trading and payment platforms, financial and asset management, and custody.”
Universities are instrumental in training professionals and advancing academic research. With the rise of virtual assets, Hong Kong universities are increasingly focusing on the development trends within virtual assets and actively exploring new models and methods to create a healthy compliance framework for digital assets, harnessing universities’ roles in education and research, whilst contributing to social and economic development. Professor Yang Wang, Vice President of HKUST, delivered a keynote speech entitled “Hong Kong Universities Embracing the New Wave of Virtual Assets”. He said, ” Hong Kong is actively fostering the growth of the digital economy and Web3, with universities playing a crucial role. Universities are not only the main places for nurturing talents, but also important incubation centers for digital economy and Web3 innovation. To further foster development in this field, we must improve collaboration between universities and industry, encourage young people to experiment and innovate, and collaborate to make Hong Kong a global leader in the digital economy and Web3. “
The roundtable forum on “Compliance Exchanges in Asia” discussed a range of practical topics such as how to strike a balance between market demand and investor protection in the context of retail investment in cryptocurrencies, and whether a licensing system for cryptocurrency exchanges will have an impact on the industry, engaging a group of panelists including Mr. Leung Hong King, Head of Financial Services and Fintech, InvestHK; Mr. Livio Weng, Chief Operating Officer of HashKey Group; and Mr. Eric Zhu, Chief Financial Officer of HashKey Group. Mr. Leung Hong King said, “It is an honor to represent the Invest Hong Kong and speak at this grand event today, discussing Hong Kong’s growing leadership position in the Web3 field. These events provide valuable opportunities for us to explore important issues such as investor protection, cryptocurrency exchange licenses, and the impact of tokenization, central bank digital currencies, and stablecoins. We look forward to seeing more discussions on these topics and encouraging stakeholders to work together to explore this new era of financial technology, and jointly strive to consolidate Hong Kong’s position as a leading global financial technology center and international virtual asset hub.” Mr. Livio Weng mentioned “Asset security has always been the top concern for users. As the first exchange to offer services to retail clients, HashKey Exchange has always prioritized user asset protection, and has developed a comprehensive virtual asset risk assessment and grading system to ensure that users of various sorts receive risk-based trading services.” And according to Mr. Eric Zhu, “Hashkey Exchange has taken the lead in compliance. We are a licensed and compliant exchange platform in Hong Kong. To safeguard the protection of fiat funds, we have collaborated with many major Hong Kong banks for asset management. Simultaneously, we have worked with institutions such as ZA Bank to open fiat accounts for exchange operations, provide seamless fiat deposit and withdrawal services, and support SWIFT bank transfers in 16 countries worldwide. With the implementation of Hong Kong policies, it is expected that more banks will cooperate to open up fiat channels, attracting more people to participate in the virtual asset market, bringing new capital inflows to the industry, and facilitating investment allocation in more areas of virtual assets.”
At the roundtable forum on “RWA (Real World Assets) and Tokenization (Asset Digitization): Opportunities and Challenges of Digitization of Physical Assets”, in-depth discussion on the concepts and connection between RWA and Tokenization, the application prospects and future development trends of RWA digitalization and tokenization in specific financial and investment domains. Mr. Duncan Chiu said, “Virtual asset platform licenses have started accepting applications. The next step should be to deepen the innovation of financial products, considering stablecoins, RWA, or other attempts.”
As Asia’s all-round digital asset management and finance house, HashKey Group is committed to setting a new benchmark for virtual asset exchanges in terms of compliance, fund protection and platform security. Mr. Livio Weng, Chief Operating Officer of HashKey Group made an official announcement at the seminar that HashKey PRO will now be renamed to HashKey Exchange as part of a brand upgrade. This upgrade comprises a brand new visual identity, improved product benefits, upgraded services, and an emphasis on offering five-fold asset security to ensure that users can experience “Trading made Safe and Simple”trading experience. HashKey Exchange has also developed HashKey Brokerage, an off-exchange trading service for virtual assets that offers high-liquidity bulk trading services for investors and high net worth clients, as well as compliance channels for deposits and withdrawals. Mr. Livio Weng said that HashKey Group will continue to support the healthy and orderly development of digital economy industries in the future, starting a new chapter of the integration of digital assets and physical economy.
About Southern Finance Omnimedia Corporation
Founded in November 2016, Southern Finance Omnimedia Corporation is the first omnimedia group in China approved by the Central Government. Within the Group, it owns a number of high-quality proprietary financial news platforms, including the 21st Century Business Herald, TVS1, Business Radio, Investment Express and 21 SFC App.
At present, Southern Finance Omnimedia Corporation has completed the initial establishment of its core businesses of media, think tank, data and trading, with ever-growing influence and credibility in the domestic economic field, especially in the financial industry and capital markets.
For more information, please visit https://www.sfccn.com/.
About HashKey Group
HashKey Group is committed to setting a new benchmark for virtual asset exchanges in the areas of compliance, capital protection and platform security. The group has already been approved by the Securities and Futures Commission (SFC) of Hong Kong to operate a virtual asset trading platform with Type 1 (dealing in securities) and Type 7 (providing automated trading services) licenses.
HashKey Exchange is also ISO 27001 (Information Security) and ISO 27701 (Data Privacy) certified.
For more information, please visit: https://www.hashkey.com/.
This press release is issued by LT Heyday Culture Communications Co. Limited on behalf of HashKey Group.