Hong Kong Fintech WeekHong Kong’s premier fintech event, held at the Hong Kong Convention and Exhibition Center from October 31st to November 4th.
Themed “Push the Boundaries and Profit”, the five-day event attracted over 20,000 attendees from over 80 global economies and focused on the rise of Web3 and Metaverse technologies.
opening HKFTW2022 Paul ChanSecretary of the Treasury Hong Kong Special Administrative Region (HKSAR)outlined a range of measures to develop the city’s cryptocurrency industry that will facilitate its growth as an international cryptocurrency hub.
he said: “Our policy stance on crypto-assets is now clearly communicated to global markets and helps demonstrate our commitment and determination to explore financial innovation together with the global crypto-assets community.”
Following Chan on the world stage Eddie Yue CEO of Hong Kong Monetary Authority. He described how fintech in the region is progressing using rapidly evolving blockchain protocols to create products and services through cryptocurrencies, stablecoins, NFTs, DeFi and the metaverse. did.
“Over time, it became clear that these innovations, especially the technology and business innovations that underpin them, would stay here and develop naturally in a healthy financial system like Hong Kong. It has the potential to reduce intermediary costs and encourage innovation.”
on the second day, Algernon YauIn his opening keynote address, the Secretary of Commerce and Economic Development of the Hong Kong Special Administrative Region noted how financial support is crucial for SMEs to grow and Fintech start-ups and companies to scale. .in the meantime Clement ChanCEO insurance authoritiesdescribes insurtech as a transformational force.
HKFTW 2022 Highlights
First day, organizer Phinoverse (Before Fin Novasia) announced expansion into North America, the Middle East and scaling up to Web3. this is, Bahamas Securities Commission When Bahamas government, Global Fintech and Web3 Festival in Nassau from January 24-26, 2023.
Marking its expansion and growth, the company also announces the completion of a major rebranding effort, unveiling a new brand identity, logo and name Finouverse. The new brand represents a new chapter for the company, which has been driving the growth of Hong Kong and Asia’s fintech ecosystem since 2015.
Using detailed data from multiple banks for the first time, the HKMA employs anti-money laundering (AML) suptech tools and a network analysis of mule accounts to show how and where risk moves across the banking sector. clarified to test how it helps to understand . To prevent bank accounts from being used for fraud and to protect customers from financial crime losses.
The HKMA is also piloting a tokenized government green bond issuance to test the use of distributed ledger technology to issue bonds in Hong Kong.