Welcome to the “Hong Kong Web3 Weekly Highlights” from Techub News. In this week’s report, we will summarize the major events and developments in the Hong Kong Web3 sector from August 18 to August 24, along with the latest data insights and detailed event previews, helping you quickly and comprehensively understand the progress in the Hong Kong Web3 field over the past week.
Hot News Dispatch
The Hong Kong dollar multilateral central bank digital currency bridge service has landed in Xinjiang for the first time.
According to the Hong Kong Wen Wei Po, a Hong Kong-listed company in Xinjiang recently used the multilateral central bank digital currency bridge platform of the Industrial and Commercial Bank of China Xinjiang Branch to pay a dividend of 30 million Hong Kong dollars from the company’s account to its Hong Kong shareholders. This is the first transaction of the Hong Kong dollar multilateral central bank digital currency bridge business in Xinjiang, further enriching the cross-border application scenarios of digital currency in Xinjiang…
CMB International Securities officially launches virtual asset trading services.
China Merchants International Securities has officially launched virtual asset trading services. Qualified investors can directly participate in Bitcoin, Ethereum, and USDT trading through their virtual asset accounts. In the future, within the framework of risk control and compliance management, China Merchants International Securities will expand the scope of virtual asset trading and upgrade its functions…
Hong Kong establishes a specialized committee for anti-money laundering in digital assets, with participation from Round Coin Innovation Technology and others.
According to the Hong Kong Economic Journal, the non-profit organization Hong Kong Digital Asset Anti-Money Laundering Professional Committee (DAAMC) announced its establishment with the support of the Hong Kong Virtual Asset Industry Association, with participation from firms like Slow Mist and Round Coin. This organization is dedicated to promoting collaboration among regulated financial institutions…
Boya Interactive plans to initiate external financing to accelerate Bitcoin allocation, aiming to hold 21,000 Bitcoins by 2027.
The research report from Hong Kong-listed company Boyaa Interactive (0434.HK) indicates that the company has announced a more aggressive Bitcoin reserve strategy, planning to initiate external financing to accelerate Bitcoin allocation, and aims to achieve a strategic reserve target of 21,000 Bitcoins by 2027…
Hong Kong Ming Cheng Group plans to invest 483 million USD to purchase 4,250 bitcoins.
According to a report by Cai Lian She, Hong Kong Mingcheng Group announced that it has signed a Bitcoin purchase agreement to spend 483 million USD to buy 4,250 Bitcoins.
The Hong Kong Securities and Futures Commission and the Monetary Authority will jointly hold the Hong Kong Fixed Income and Currency Forum on September 25.
The Hong Kong Securities and Futures Commission and the Monetary Authority will jointly host the Hong Kong Fixed Income and Currency Forum 2025 on September 25. As a leading international bond issuance center in Asia and the fourth largest foreign exchange market globally, Hong Kong is actively exploring ways to consolidate and enhance its position in the fixed income and currency markets. This forum aims to provide participants in the fixed income and currency markets…
PwC: Suggests Hong Kong accelerate the promotion of digital asset-related strategies
According to the Securities Times, PwC has suggested accelerating the promotion of digital asset-related strategies in response to the Hong Kong government’s recent publication of the “Hong Kong Digital Asset Development Policy Declaration 2.0”. The firm believes that Hong Kong has the potential to position itself as a digital-first asset and wealth management center…
Hong Kong listed company Tianshi Resources plans to issue tokenized silver digital currency.
Hong Kong-listed company Tian Shi Resources (08028.HK) will collaborate with Ade Securities and Futures to issue asset-backed digital tokens supported by physical silver (silver tokens), promoting Hong Kong’s first silver tokenized real-world asset (RWA) project…
Hong Kong listed company Huaxing Capital has signed a strategic cooperation memorandum with YZi Labs, committing to invest approximately 100 million USD to allocate BNB assets.
According to a Hong Kong Stock Exchange announcement, Hong Kong-listed company Huaxing Capital (stock code: 1911) has announced a strategic cooperation memorandum with YZi Labs to support the application of BNB and the BNB Chain ecosystem, and to establish a mutually empowering cooperative relationship. The cooperation includes: a strategic BNB special allocation led by Huaxing Capital: the company will invest approximately 100 million USD in a special allocation of BNB assets…
Hong Kong Financial Secretary Paul Chan: The positioning of Hong Kong’s stablecoins is clear, and there are no speculative opportunities.
According to Hong Kong Radio, the Secretary for Financial Services and the Treasury, Christopher Hui, stated that the positioning of Hong Kong’s stablecoin is clear; it serves as a payment tool and is another form of fiat currency, with no speculation opportunities. He reminded the public to be cautious…
Industry Observation
“Hong Kong Cryptocurrency Atlas: Tear, Confrontation, and Integration”
In the same Hong Kong, within the same cryptocurrency ecosystem, some feel the excitement and opportunities brought by the industry’s economic upturn; while others experience the fatigue and disillusionment caused by institutional and cultural friction. The dramatic rift unfolds every day.
On one hand, almost all mainstream Hong Kong brokerages have already ventured into the cryptocurrency business. The latest statistics show that over 40 brokerages, more than 35 fund companies, and over 10 large banks and accounting firms in Hong Kong are involved in virtual asset business. For example, Futu Holdings, the largest technology brokerage in Hong Kong, has been providing clients with trading services for virtual assets such as Bitcoin and Ethereum since last August, and by the end of last year, its daily trading volume had exceeded 35 million dollars.
From brokers, funds, banks, auditing to insurance, mainstream financial institutions in Hong Kong are systematically and comprehensively incorporating cryptocurrencies into Hong Kong’s financial system. This has made some financial practitioners who have crossed into the cryptocurrency industry feel a long-lost atmosphere of innovation and a sense of “the beauty of industry economic upturn.”
However, on the other hand, some Crypto Natives who have joined compliant companies are experiencing a profound disillusionment—the decentralized utopia they once firmly believed in is constantly colliding with the realities of regulation, compliance, and financial logic. They want to maintain the “style” and “tone” of Crypto Natives while also wanting to get a share of the compliant industry, which is becoming a dilemma that is hard for them to resolve.
“Circle and Stripe Compete to Build the Chain, Is the ‘AWS Moment’ for Payment Infrastructure Here?”
According to a report by Fortune, Stripe and Paradigm may be collaborating to develop a payment-centric blockchain, although this has not yet been officially confirmed. Assuming the news is true. In addition, Circle also announced similar plans in its financial report. What do these developments mean?
Let’s take a global view. The current payment infrastructure remains highly customized, fragile, and expensive to scale. If you believe that artificial intelligence will accelerate the growth of transaction volume and agree with the notion that “money is being software-driven,” then the conclusion is obvious:
The payment of native chains is imperative. The existing infrastructure, whether on-chain or off-chain, cannot meet future demands. Stablecoins, tokenized deposits, and on-chain finance are gradually becoming a reality.
The key question is: which network can standardize the underlying technology, allowing operators to win through software competition?
“a16z: 6 Misconceptions About Blockchain Privacy”
From telegraphs and telephones to the internet, new technologies always provoke concerns about the impending demise of privacy. Blockchain is no exception, and the privacy on the blockchain is often misunderstood as creating a dangerous transparency or a haven for crime.
But the real challenge is not in choosing between privacy and security, but in building tools that can support both simultaneously—whether on a technical or legal level. From zero-knowledge proof systems to advanced encryption technologies, privacy protection solutions are continually expanding. Blockchain privacy is far from limited to the financial sector; it also opens doors for applications benefiting users in identity verification, gaming, artificial intelligence, and more.
With the recent signing and implementation of stablecoin legislation in the United States, the demand for blockchain privacy is more urgent than ever. Stablecoins represent an opportunity for a billion people to participate in cryptocurrency. However, for users to confidently use cryptocurrency to pay for various expenses, from coffee to medical bills, they need to ensure that their on-chain activities are private. Now is not the time to create myths, but to build.
The debate about privacy is not new, and neither is the answer: innovation, rather than myths and misunderstandings, will shape the future of privacy.
“Monero Faces 51% Hashrate Attack: Who is the Mysterious Attacker Qubic?”
In mid-August, the Monero (XMR) network experienced a 51% hash power attack led by Sergey Ivancheglo, the former co-founder of IOTA, and the Qubic project. Qubic controlled over 50% of Monero’s total hash power, meaning it had the ability to reorganize blocks, censor transactions, and potentially implement double spending. This incident has sparked widespread attention and discussion in the crypto industry, particularly regarding whether the network security of Monero, as a privacy coin, would be threatened. In response, the cryptocurrency exchange Kraken announced a suspension of Monero deposits as a precautionary security measure, with the deposit function to be restored only after confirming network security. Moreover, this week, according to Cointelegraph, the Qubic community has voted to decide that the next attack target will be Dogecoin (DOGE), which has a market capitalization of over $35 billion.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflow and Outflow Situation
According to data from ichaingo, last week the subscription volume for Bitcoin spot ETFs in Hong Kong was 9.89 coins, with a total holding value of approximately 486 million USD, a decrease in holding value of about 26.12 million USD; the subscription volume for Ethereum spot ETFs was 1265 coins, with a total holding value of approximately 121 million USD, a decrease in holding value of about 3 million USD.
Event News
Overview of Bitcoin Asia 2025 Surrounding Events
Bitcoin Asia 2025 makes a strong return! As the most influential Bitcoin event in Asia, this conference will be grandly held in Hong Kong from August 28 to 29, bringing together the core forces of the global Bitcoin community — top enterprises, innovative projects, experienced developers, institutional investors, and policymakers, creating an unprecedented flagship event for the industry. This event is not only a celebration of technology but also a key step for Bitcoin towards mainstream adoption!
