Hong Kong Web3 Weekly Highlights: Yunfeng Financial strategically invests in global Crypto Assets life insurance company Anthea

Welcome to read Techub News's “Hong Kong Web3 Weekly Digest.” In this week's report, we will summarize the major events and developments in the Hong Kong Web3 sector from September 29 to October 5, as well as the latest data insights and detailed event previews, helping you quickly and comprehensively understand the progress in the Hong Kong Web3 field last week.

Hot News Dispatch

Yuan Coin Technology officially launched the new cross-border payment brand “Yuanwen Payment”.

Round Coin Technology Group has officially announced the launch of its new cross-border payment brand “OristaPay.” This move clearly distinguishes the group's two core businesses: the first is “OristaPay,” which focuses on cross-border payment services, covering fiat wallets and payment services, operated by the group's subsidiary Round Coin Wallet Technology Co., Ltd., which holds a Stored Value Facility (SVF) license; digital payment and escrow services are provided by RD Escrow…

Hong Kong Securities and Futures Commission: The total reported virtual asset trading commission income for the first half of 2025 is HKD 127.9 million.

The Hong Kong Securities and Futures Commission has released a financial review report on the securities industry. The report indicates that the Hong Kong securities industry has maintained stable growth this year, with net profits increasing by 14% to HKD 28.9 billion under a record high trading volume. Among this, the total commission income from virtual asset trading reported for the first half of 2025 was HKD 127.9 million, an increase of HKD 500,000 compared to the second half of 2024, while income from securities trading… Xu Zhengyu: The first batch of licenses for stablecoins will be issued as scheduled in early next year. Xu Zhengyu, Secretary for Financial Services and the Treasury of Hong Kong, stated in an interview with Caixin that the application for licenses for compliant stablecoins is progressing according to the original framework, with the first batch of licenses expected to be issued in early 2026 as scheduled. Hong Kong's regulatory positioning is very clear, which is to achieve a balance in three areas: innovation, integration into the real economy, and risk control…

Hong Kong Monetary Authority: As of September 30, 36 institutions have submitted applications for stablecoin licenses. According to the Daily Economic News, the Hong Kong Monetary Authority has revealed that as of September 30, it has received applications for stablecoin licenses from 36 institutions, including banks, technology companies, and various other entities. The Monetary Authority will approve according to the “Stablecoin Ordinance,” aiming to announce the first batch of licenses early next year, with only a few licenses issued in the first phase. Previously, the Monetary Authority encouraged institutions interested in applying for licenses to contact the Monetary Authority by August 31 or earlier…

Yunfeng Financial strategically invested in the global cryptocurrency life insurance company Anthea.

Hong Kong listed company Yunfeng Financial (00376.HK) announced that it has successfully strategically invested in the global cryptocurrency life insurance company Anthea Holding Limited and signed a strategic cooperation memorandum with it. Both parties will jointly explore growth opportunities in the global cryptocurrency life insurance market and apply blockchain technology in insurance compliance processes (such as KYC and anti-money laundering)…

The first personal loan for Hong Kong residents was issued in Shenzhen, utilizing blockchain technology to solve the cross-border financing challenges.

According to reports from CCTV News, consumer loans for Hong Kong residents in the Mainland, relying on the Shenzhen-Hong Kong cross-border data verification platform, were recently issued in Shenzhen. This marks another breakthrough in the Shenzhen-Hong Kong cross-border financial pilot. This pilot project innovatively applies blockchain technology to achieve efficient verification of Hong Kong residents' credit data, under the premise of full authorization from the information subjects, effectively solving the cross-border financing difficulties faced by Hong Kong residents due to the credit information gap in the Mainland…

Industry Observation

“Petro RMB”: A CNH stablecoin system anchored by petro RWA

In the current context of the “petrodollar” showing weakness and the exploration of “electricity renminbi” progressing simultaneously, limiting the international use of the renminbi to clean electricity would mean missing out on a pivot with greater industrial depth and global breadth: the real-world assets (RWA) of oil and chemicals. The so-called “petro-renminbi” (Petro-CNH Stablecoin, abbreviated as CNHP) is not a mere replication of the petrodollar's single commodity standard, nor is it equivalent to the “electricity renminbi” anchored by energy and electricity; rather, it is based on the large-scale, auditable, priceable, and liquid RWA of China's petrochemical industry chain, reconstructing the pricing and settlement methods of commodity trade through compliant stablecoins and cross-border clearing networks.

Why does Hong Kong's blockchain policy seem to be “repeated”?

With the stablecoin legislation in the United States and Hong Kong, and the resulting trends in the stock and cryptocurrency markets, stablecoins and RWA are now hot topics in Hong Kong. Every dining table is discussing the recent market trends and rumors, and traditional financial giants are starting to actively engage in crypto opportunities. A large number of traditional internet and AI entrepreneurs are flocking to Hong Kong in search of ways to integrate Web3. Many forward-thinking entrepreneurs from traditional industries are also beginning to pay attention to crypto. Even discussions about stablecoins and RWA in hotel lobbies attract curious inquiries and exchanges from others.

SEC Halted! Litecoin ETF Suddenly Faces “Silent Rejection”, Access to the Hundred Billion Altcoin Market Remains Unresolved

The U.S. Securities and Exchange Commission took no action on Thursday (the initial deadline for its decision), leaving Canary Capital's spot Litecoin exchange-traded fund in limbo.

The silence of the U.S. Securities and Exchange Commission has left the crypto community uncertain about how the regulatory agency will operate during the federal government shutdown and how its new universal listing standards will affect the timeline for dozens of pending crypto ETF applications.

Bloomberg ETF analyst James Seyffart and FOX News reporter Eleanor Terrett pointed out that the old 19b-4 deadline for crypto ETF applications may no longer be applicable, as the U.S. Securities and Exchange Commission (SEC) has requested applicants to withdraw these deadlines, leaving only the S-1 registration statement as the sole document requiring approval from the regulatory agency.

DeFi is replicating the script of SaaS and fintech.

In 2010, Andrew Parker of Spark Capital published a blog that depicted how dozens of startups took advantage of Craigslist's “split” opportunities. At that time, Craigslist was a “horizontal” internet marketplace that offered a variety of services, ranging from rental listings and part-time jobs to second-hand goods trading, as shown in the image below.

Parker concluded that many successful companies—Airbnb, Uber, GitHub, Lyft—have carved out a very small vertical from the extensive functionalities of Craigslist and significantly improved the user experience. This trend initiated the first wave of “market fragmentation”: the large, all-encompassing platform Craigslist is gradually being replaced by applications focused on single purposes. These newcomers not only enhanced the user experience (UX) of Craigslist but also completely redefined it. In other words, “fragmentation” deconstructs a broad platform into narrower, independently autonomous verticals, satisfying user needs in unique ways, thereby disrupting Craigslist.

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 15.71 units, with a total holding value of approximately $521 million, an increase of about $47 million in holding value; the subscription volume for Ethereum spot ETFs was 293.99 units, with a total holding value of approximately $142 million, an increase of about $18 million in holding value.

Event News

CARF and CRS 2.0: Survival Skills Before 2026

Hosted by GDF, the conference will take place on October 7th on Zoom, focusing on key aspects of the Crypto Asset Reporting Framework (CARF) and the Common Reporting Standard (CRS). It will emphasize model self-certification, potential transitional rules, technologies applicable to stablecoins, and the overlap between CRS and CARF in the tokenization of real-world assets. The guest lineup includes Dr. Max Bernt, Daniel Dezhankovskiy from PwC, Pedro from Binance, and Elise Soucie Watts from Global Digital Finance (GDF) to help you navigate implementation and compliance challenges.