Latest news with #ConsensusHongKong2025
Zawya
21-02-2025
- Business
- Zawya
World-leading Crypto Event Launches APAC's Largest Debut with Consensus Hong Kong 2025
Over 350 side events transformed mega digital assets event to mega festivities HONG KONG SAR - Media OutReach Newswire - 21 February 2025 - Regarded as the "Super Bowl of Blockchain" and "the World Cup of Web3", Consensus, the most influential and longest-running event of the crypto world, picked Hong Kong as a destination to expand beyond North America, with a record-setting debut of nearly 10,000 from over 100 countries and regions converging at the Hong Kong Convention and Exhibition Centre from 18-20 February. Phoebe Shing, Director, Business Development Team Lead, MICE • MICE-Business Development of the Hong Kong Tourism Board (HKTB), said, "The tremendous success of Consensus's Hong Kong debut marked the city as one of the most conducive destinations to expand the global footprint of proven events. More than a world's meeting place, Hong Kong is also a super-connector in the world of finance, innovation and technology (I&T) and global cultures. This mega crypto event also puts Hong Kong on the forefront of accelerating the region's advancement, while generating high-yield tourism spending and business activities to fuel Hong Kong's economy." A convergence of who's who in the world of blockchain, digital assets and web3 Asia's top financial policymakers, crypto thought-leaders and investors shared the main stage with Mainland and world pioneers in blockchain, digital assets and web3 fields, defining what's next and mapping the way forward for greater impact. The cast of stellar speakers notably included Richard Teng, CEO of Binance, the largest crypto exchange by trading volume; Adam Back, CEO and co-founder of Blockstream, a global leader in Bitcoin and blockchain technologies; Yat Siu, Co-Founder & Chairman Animoca Brands, a global leader in blockchain and gaming; Hong Fang, President of OKX, a leading Web3 technology company and leading crypto exchange, and many more. Sara Stratoberdha, CEO of CoinDesk said, "Consensus has been running for over 10 years and is one of the longest-running and comprehensive digital assets events in the world. Hong Kong, a Fintech hub in Asia serves as a global center for crypto and web3 technologies, with favourable policies and a large pool of talent for blockchain, digital assets and web3 to thrive. We are thrilled to see that over 75% of attendees are coming from outside Hong Kong. A truly international event! The city has proven the ideal choice for expanding Consensus beyond North America." A strong line-up of over 3 5 0 side events, delivering huge commercial value Consensus Hong Kong 2025 was embellished with more than 350 side events, giving the energetic global crypto community diverse opportunities to showcase their expertise, create and renew partnerships and party to the heart's content. Michael Lau, Chairman of Consensus Hong Kong, added, "The scale of the inaugural Hong Kong event has surpassed our expectations, with nearly 10,000 attendees and what truly surprised us is that the community and industry were eager to participate and the fact that we ended up hosting over 350 side events is a strong testament to Hong Kong as a leading global FinTech hub where we have a vibrant ecosystem, entrepreneurial spirits, innovative cultures that nowhere else can replicate. I am also appreciative of the support from the HKTB in securing the event for the city I call home." Transforming business events into mega festivals Consensus Hong Kong also spectacularly transformed a leading business event into a mega festival, kicking off with its Opening Party – Rooftop Revelry, held at Cloud 39, the ultra-luxury rooftop ballroom of iconic landmark in Central The Henderson that set the tone for the event's sophisticated networking occasions. Action continued all the way to its long-established tradition of Music Festival and Crypto Fight Night, extending to Hong Kong's unique horse-racing and night party at Lan Kwai Fong. The conference concluded with a bang with the Consensus Closing Party in Lan Kwai Fong, where participants were treated to an open bar, live music and fun networking. Brad Spies, Vice President of Consensus, said, "Hong Kong has a long legacy of finance, banking and some of the deepest capital markets in the world; but it's also such a vibrant and diverse city with the best restaurants, fantastic venues and unique experiences. The city simply fulfilled the promises of delivering the best of business and fun. Hong Kong is such a world-class city for people to come and transform business events into mega festivals." Hashtag: #HKTB The issuer is solely responsible for the content of this announcement. Hong Kong Tourism Board
Yahoo
19-02-2025
- Business
- Yahoo
Tokenisation a 'defining trend' for Web3 in Hong Kong as city hosts major Consensus event
Hong Kong is intensifying its focus on tokenisation and stablecoins to bolster its Web3 industry, the financial services secretary said ahead of a major international blockchain conference, as the city's virtual asset push faces increased competition from the US. Tokenisation is one of the "defining trends" and a "profoundly transformative" development that could reshape traditional financial markets, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said in a keynote speech on Tuesday at Consensus Hong Kong 2025. Consensus, organised by US crypto news outlet CoinDesk, is one of the industry's biggest conferences. The organiser added Hong Kong as a location this year in its first major expansion since CoinDesk was acquired by the cryptocurrency exchange Bullish in November 2023. The main Consensus Hong Kong event kicks off on Wednesday. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Tokenisation refers to the process of creating tradeable tokens on a blockchain that represent ownership of real-world assets. Since the Securities and Futures Commission (SFC) published circulars in November 2023 outlining requirements for tokenised investment products, Hong Kong companies have jumped on the trend, touting the flexibility and accessibility of tokenised products. HSBC Gold Token is the first such retail product to be issued by a bank in Hong Kong, according to HSBC, as the government pushes for the issuance of more tokenised assets. Photo: HSBC alt=HSBC Gold Token is the first such retail product to be issued by a bank in Hong Kong, according to HSBC, as the government pushes for the issuance of more tokenised assets. Photo: HSBC> HSBC in March last year launched a tokenised gold product called HSBC Gold Token for its retail customers in Hong Kong. Last week, the Hong Kong arm of one of China's largest fund houses, China Asset Management (Hong Kong), said that it received approval from the SFC to offer a tokenised money market fund in the city that will also be available to retail investors. The fund will launch by the end of February, the company said. In his Tuesday speech, Hui also highlighted Hong Kong's commitment to developing fiat-referenced stablecoins, an increasingly important focus of the industry. Stablecoins can address issues in cross-border payments, international trade, and digital commerce, he said. In December, the Hong Kong government introduced a bill to regulate stablecoins to the Legislative Council, bringing it one step closer to requiring a licence for stablecoin issuers. While the SFC oversees the licensing regime for issuers of other cryptocurrencies known as virtual assets, stablecoins will be governed by the city's de facto central bank, the Hong Kong Monetary Authority. Recent moves in the US have taken some of the wind out of Hong Kong's sails as a major financial market courting the crypto industry. US President Donald Trump, who returned to the White House in January, campaigned on a crypto-friendly platform and has made several moves seen as positive for the industry since resuming office. Trump has said he intends to make the US the "crypto capital of the planet". This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2025 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2025. South China Morning Post Publishers Ltd. All rights reserved.
Zawya
19-02-2025
- Business
- Zawya
Hong Kong eyes crypto derivatives, margin lending in digital asset push
HONG KONG - Hong Kong is considering approving derivatives and margin lending in virtual assets for some investors, its financial regulator said on Wednesday, as the city seeks to boost its competitiveness as a digital assets hub and attract capital. Hong Kong first drew up a plan to become a virtual asset trading centre in 2022 - an effort that followed Beijing's sweeping ban on all cryptocurrency transactions in mainland China the previous year. It has since launched the first spot crypto exchange-traded funds in Asia and other initiatives. "We are considering derivative products for professional investors, margin lending for certain customers," Securities and Futures Commission (SFC) CEO Julia Leung told CoinDesk's Consensus Hong Kong 2025 conference, referring to digital assets. The city's financial secretary, Paul Chan, told the event the city's regulators have so far issued nine virtual asset trading platform (VATP) licences. Bullish Group, a cryptocurrency exchange which owns crypto news website CoinDesk, said it had been granted one of the licences on Tuesday. Leung said there are eight more applications being considered, and Chan said the government was also working to advance the regulation of stablecoin cryptocurrencies. Hong Kong's SFC will release a virtual asset roadmap later on Wednesday with detailed growth plans, Leung added. Alongside Hong Kong, Singapore and Dubai are also aiming to become global hubs for virtual assets. Consensus Hong Kong is the first major crypto industry gathering since U.S. President Donald Trump took office last month, promising crypto-friendly policies, and speakers expressed a bullish view on the regulatory environment. "There's a big shift in sentiment in the U.S.," said Richard Teng, chief executive of Binance Holdings. He said some sovereign wealth funds and institutional investors have gone from debating whether they should invest in crypto to considering how much they should invest. Separately, Justin Sun, founder of the Tron blockchain network, told a panel he had invested in World Liberty Financial - a newly launched crypto company partly owned by Trump - because it focuses "on bridging traditional finance with the crypto world". The price of bitcoin more than doubled last year. It hit an all-time high of $109,071 on January 20 this year, the day of Trump's inauguration, but has since pulled back to stand at about $96,000.
Yahoo
19-02-2025
- Business
- Yahoo
Hong Kong issues nine digital asset platform licenses, plans more approvals
By Summer Zhen and Jiaxing Li HONG KONG (Reuters) - Hong Kong's financial secretary Paul Chan on Wednesday said the city's regulators have issued nine digital asset platform licences, adding that more approvals are in the pipeline. The government is also working to advance the regulation of stable coin, Chan told Coindesk's Consensus Hong Kong 2025 conference. Hong Kong first drew up a plan to become a virtual asset hub in 2022 - an effort that followed Beijing's sweeping ban on all crypto transactions in mainland China the previous year. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. It has since launched the first spot crypto exchange-traded funds in Asia as well as other intiatives. Singapore and Dubai are also aiming to become global hubs for virtual assets. The price of bitcoin more than doubled last year. It hit an all time high of $109,071 on January 20 this year, the day of Donald Trump's inauguration but has since pulled back to stand around $96,000.
Reuters
19-02-2025
- Business
- Reuters
Hong Kong issues nine digital asset platform licenses, plans more approvals
SYDNEY, Feb 19 (Reuters) - Hong Kong's financial secretary Paul Chan on Wednesday said the city's regulators have issued nine digital asset platform licences and has more approvals in the pipeline. Chan, speaking at Coindesk's Consensus Hong Kong 2025 conference, said Hong Kong's government was also working to advance the regulation of stable coins. The Technology Roundup newsletter brings the latest news and trends straight to your inbox. Sign up here. Reporting by Summer Zhen and Jiaxing Li in Hong Kong; writing by Scott Murdoch; editing by Christian Schmollinger
