Hong Kong Cyberport CEO Nicholas Yang: Has helped Web3 companies open bank accounts

2023-08-18 22:38:14

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ChainCatchter news, Hong Kong Cyberport CEO Simon Kwan stated in a recent interview with Finance730 that the Hong Kong government is actually "making an exception" to promote Web3 and virtual assets, clearly seeing the disruptive changes that the third generation of the internet will bring to long-term technology. Therefore, it is quite visionary to promote this. Hong Kong Cyberport has become the Web3 base in Hong Kong, with most companies coming from overseas, and over 200 companies are already engaged in Web3 business.

Simon Kwan also mentioned that financial institutions may need time to adjust their policies and risk control measures, but there are already two virtual banks within Hong Kong Cyberport, which have helped Web3 companies open bank accounts. In response to former Hong Kong Monetary Authority CEO Norman Chan's statement that "virtual assets are a casino," Simon Kwan replied that Norman Chan mistakenly equated the government's promotion of Web3 with encouraging speculation in virtual currencies, but many Web3 applications are not cryptocurrencies and cannot be considered speculation.

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