Retail virtual asset trading will be available in the administrative region thanks to ZA Bank, a Hong Kong-based company.
The securities watchdog in Hong Kong has unveiled fresh proposals to give regular investors access to platforms for virtual assets.
The pilot program for the e-HKD's central bank digital currency (CBDC) was presented by the Hong Kong Monetary Authority (HKMA).
The regulatory framework for crypto exchanges received more than 150 responses during the public consultation process.
The largest virtual bank in Hong Kong based on assets, ZA Bank, plans to support crypto-to-fiat swaps and offer services for cryptocurrency accounts.
The Securities Token Offering from Signum Digital has received preliminary approval from the Hong Kong Securities and Futures Commission.
Representatives from the China Liaison Office have been frequenting Hong Kong crypto gatherings to get a grasp of what's going on.
Hong Kong's Financial Secretary, Paul Chan, has pledged to work towards establishing the territory as a hub for the cryptocurrency industry.
Hong Kong is working hard to supervise the cryptocurrency market appropriately so that technologies like Web3 can reach their full potential.
The legislation approved by the Hong Kong Legislative Council will soon let ordinary investors purchase virtual assets, and local financial businesses are vying for license approval.