ChainCatcher news, according to the South China Morning Post, HashKey Group Chairman and CEO Xiao Feng stated in an interview: "If the U.S. Congress and the incoming President Trump clarify cryptocurrency policies, continuously legislate, and promote the development of the industry, this will definitely become a driving force for China to accept (cryptocurrency)."Xiao Feng believes that Washington and its Western allies excluding Russia from the Swift financial information system in 2022 may also prompt Beijing to support the cryptocurrency industry. He said: "If these events had not occurred, China might have needed five to six years from now to accept cryptocurrency business. But now, due to these influencing factors, this timeframe may be shortened to two years." The Chinese government has not yet shown signs of possibly relaxing its ban on digital assets. However, Beijing has allowed Hong Kong to develop its digital asset industry. Xiao Feng stated that if China wants to restore the development of its digital asset market, it can start with a payment and clearing system based on regulated stablecoins.He said: "Stablecoins are currently the best solution for cross-border business-to-consumer trade," citing reasons such as fast transaction speeds and low fees. Xiao Feng mentioned that his HashKey team recently conducted a survey in Yiwu, which found that almost all merchants received inquiries from buyers about whether they could use popular dollar stablecoins (such as USDT and USDC) for payments.

ChainCatcher news, Hong Kong's largest licensed virtual asset exchange HashKey Exchange, in collaboration with the Greater Bay Area Financial Association, held a high-end institutional summit in Central, Hong Kong, themed "How Global Changes Affect Asset Allocation." Attendees included Dr. Hong Wen, a member of the Hong Kong Legislative Council, Dr. Xiao Feng, Chairman and CEO of HashKey Group, Wang Long, President of the Greater Bay Area Financial Association, and Weng Xiaoqi, COO of HashKey Group and CEO of HashKey Exchange, who all delivered speeches.Dr. Xiao Feng stated, "Research from university papers shows that incorporating Bitcoin into an asset portfolio can not only significantly reduce the overall portfolio risk but also enhance the risk-adjusted returns, which are quite considerable. With the clarity of global compliance, financial institutions can allocate products.Specifically, in terms of business, HashKey Group is committed to providing comprehensive virtual asset and related services for institutional investors and retail users. Geographically, we have institutions and operations in Hong Kong, Singapore, and Tokyo; vertically, we offer a full range of services from infrastructure construction, cloud services, venture capital support, to helping companies design compliant legal structures and economic models. These are our core businesses and main support points. In terms of trading, we have exchanges in Hong Kong and OTC licenses in Singapore and Tokyo.Currently, the entire HashKey Group has nearly 600 employees distributed across six different countries and regions. This team configuration enables us to provide very professional and attentive services to our clients. Overall, HashKey Group hopes to leverage our expertise and global presence to offer clients the most suitable asset allocation solutions, helping them achieve better returns in an ever-changing market."

According to ChainCatcher news, as reported live by Foresight News, at the main forum of the 8th Hong Kong FinTech Week jointly organized by the Financial Services and the Treasury Bureau of the Government of the Hong Kong Special Administrative Region, InvestHK, and FintechHK, Xiao Feng, Chairman of Wanxiang Blockchain, stated that they are currently discussing with Hong Kong Cyberport the design of an application chain aimed at DePIN, bringing together all DePIN-related applications.

ChainCatcher news, according to Deep Tide reports, at the signing ceremony of the strategic cooperation between "KUN & Hashkey Exchange," Dr. Xiao Feng, founder of Hashkey Group, stated in his speech that Hashkey Group will jointly issue stablecoins in Hong Kong with Yuan Coin Technology and ZhongAn Bank.Yuan Coin Technology was founded by former Hong Kong Monetary Authority president Chen Delin and has obtained a Stored Value Facility (SVF) license issued by the Monetary Authority. The five main shareholders include members from ZhongAn Digital Asset Group under ZhongAn Online and HashKey Holdings Limited. Yuan Coin Technology primarily targets the B2B market, aiming to help trade enterprises solve cross-border payment challenges and assist companies in managing foreign exchange risks.

ChainCatcher news, according to Meta Era, HashKey Group Chairman Xiao Feng stated at the "Hong Kong Crypto Finance Summer Forum" that there is still significant room for improvement in Hong Kong's existing regulatory rules and legal provisions. He believes that continuous improvements will be made in the future, and many regulations have yet to be issued, such as STO (Security Token Offerings). By the end of this year, we can expect the Hong Kong Securities and Futures Commission to issue a regulatory circular regarding STOs. Crypto finance (or virtual assets) needs to support Hong Kong's real economy and technological innovation, and STOs are a crucial aspect. Promoting STO financing for tech companies can connect crypto finance with the real economy and also relate it to Hong Kong's innovative technology. The Hong Kong Securities and Futures Commission can clarify the rules in the regulatory circular, allowing the industry to understand how to finance through tokenization.

ChainCatcher news, the first module of the Everything Incubator, "Go with the Flow," has officially started classes at Hong Kong Cyberport. In the session titled "How to Choose the Right Timing, Track, and Ecological Position in the Era of Web3 and AI," Xiaofeng, the founder of Everything Island, stated, "The three-token model of Web3 applications consists of NFTs as commodity rights, functional tokens as usage rights, and security tokens as ownership. Among these, functional tokens are not securities under Hong Kong securities law, but merely enterprise points, and cannot engage in financing activities such as issuance, sale, and subscription. They are also not assets on the company's balance sheet. Price discovery relies on the secondary market, but compared to points, the advantage is that they are issued through ERC20, which is open and transparent, and distributed to users for free through a reward model. The initial issuance will not be through sales but rather giveaways. Even if the secondary market price is very high, it is merely market behavior. The initial opening price for token holders in the secondary trading market is determined through a Dutch auction on the chain. The value of functional tokens comes from several sources, including the 'permission' to use the network, paying gas fees with tokens, paying commissions with tokens, company buybacks using part of the profits, governance rights in the community, limited eligibility for airdrops and whitelist inclusion, network effects, and value units."It is reported that the "Everything Incubator" is an Eastern entrepreneur acceleration program initiated by the Everything Island community, with 22 senior coach experts involved in mentoring. It is also the first entrepreneurial camp officially co-organized by Hong Kong Cyberport. Everything Island is committed to becoming a long-term partner for high-value projects and is an undeniable force in the Chinese innovation and entrepreneurship alliance.

ChainCatcher news, during the main event "The Future of Tokenization" at the 2023 Hong Kong Web3 Carnival, Xiao Feng, Chairman of Wanxiang Blockchain and HashKey Group, delivered a closing keynote speech titled "The Three-Token Model of Web3 Applications." He stated that the applications of Web3 will inevitably meet various demands. The token model at the application layer of Web3 is different from that of the underlying protocol. The underlying protocol is a single-token model that should be unified globally, while the application protocol is a three-token model, with each application scenario having its own characteristics. In the three-token model, the first is NFT (value of data, products, and services), the second is functional Token (value of usage rights), and the third is security Token (value of ownership, which is equity value).