The Office for Attracting Strategic Enterprises has a pivotal role in CertiK and KN Group’s moves to scale their operations and capabilities
As an international financial hub with a reputation for embracing innovation, Hong Kong has made bold strides to cement its position as a leader in financial technology and digital assets.
Today, the city is home to over 1,100 fintech firms specialising in areas ranging from mobile payments and cross-border wealth management to AI-powered financial consultancy. Hong Kong’s fintech sector includes eight digital banks, four virtual insurers and 11 licensed virtual asset trading platforms, and its total revenue is projected to reach US$606 billion by 2032, with an annual growth rate of 28.5 per cent.
The Hong Kong government has been devising policies to facilitate the city’s fintech development. In 2023, it was among the first in the world to establish clear licensing frameworks for virtual asset trading platforms.
More recently, the passage of the Stablecoins Bill in May marked a significant step in the regulation of virtual assets. The bill, which establishes a licensing regime for fiat-referenced stablecoins issuers in Hong Kong, joins the existing licensing regime for virtual asset service providers that governs exchanges and trading platforms. Together, they provide comprehensive oversight of the city’s virtual asset ecosystem, from asset creation to trading.
