Hong Kong Government Will Set Up $4 Billion Fund To Support Fintech Development

Hong Kong is active in blockchain development, in addition to issuing policies related to cryptocurrencies. The Hong Kong government will set up a $4 billion technology fund to support the development of financial technology.

Hong Kong Fintech Week has started today, many positive signs have shown that the country is making efforts in the development of blockchain and cryptocurrency.

At the event, the Hong Kong Special Administrative Region government announced it would establish a special talent matching department to attract global fintech talent; The Hong Kong government and regulators will launch a series of pilot projects, including NFT issuance, stablecoins, digital bonds, and more.

Besides, it will establish a technology fund worth $4 billion to support the development of financial technology (Fintech).

Earlier today, the Hong Kong issued a statement on virtual assets policy, including the preparation of the licensing system and discussion of the legality of tokenized assets.

Hong Kong affirms to always keep an open and inclusive attitude towards innovators involved in the virtual asset business worldwide. The government is currently working with financial regulators to create an enabling environment for the sustainable and responsible development of the virtual asset industry in Hong Kong.

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