Hong Kong to Attract Thousands of AI & Web3 Companies as CoinW Prepares for Hong Kong Branch Launch

The world’s largest AI & Web3 investment summit, EDGE, took place in Hong Kong on September 26-27, 2023. CoinW, a leading global cryptocurrency exchange platform, joined thousands of entrepreneurs, investors, scholars, and prominent project leaders from around the world at this prestigious event. Additionally, CoinW’s Chief Communications Officer, Carmen Tan, was invited to discuss “How to emerge Alpha in crypto market” with industry investors during a panel discussion.

Hong Kong Recognizes AI & Web3 as Key Economic Growth Drivers

The EDGE Summit is renowned as the pinnacle event in the fields of artificial intelligence and Web3. While the inaugural event was held in Hong Kong, subsequent summits have been hosted in Dubai, London, and Silicon Valley. This time, it returned to Hong Kong, garnering support from key departments within the Hong Kong government.

During the opening ceremony, David Chung, former under-secretary for the Innovation, Technology, and Industry Bureau of Hong Kong, emphasized Hong Kong’s proactive embrace of transformative technology of Hong Kong. The city sees AI & Web3 as crucial drivers of economic growth and is fostering collaboration across sectors from a governmental perspective.

Furthermore, Mr. Ng shared Hong Kong’s two-year plan for the AI & Web3 development. Since the beginning of this year, Hong Kong has been actively introducing top-tier projects in these fields. By May, approximately 84,000 related project applications had been submitted for operation in Hong Kong, with approvals granted for around 49,000. This marks a significant step in attracting global talent to Hong Kong. The city plans to attract at least 1,100 multinational companies to establish branches in Hong Kong between 2023 and 2025.

CoinW’s Hong Kong Branch on the Horizon

In addition to setting up a booth at the summit, CoinW’s newly appointed Chief Communications Officer, Carmen Tan, was invited to participate in a roundtable discussion on the topic, “Foresight: How to Emerge Alpha in Crypto Market.” Carmen noted that the global crypto market is currently in a bear market, with several countries imposing stricter policies on digital assets. In response, CoinW has taken two key steps. First, they have proactively applied for operating licenses in the jurisdictions where they provide services, maintaining a commitment to security and compliance. Second, they’ve delved into education. Earlier this year, CoinW launched products like the CoinW Academy to cater to investors at different levels. Carmen believes that regardless of market fluctuations, investment decisions should be grounded in thorough research and comprehensive information.

Simultaneously, CoinW is set to launch a new branch, CoinWHK, in Hong Kong. This branch aims to provide localized products and services to Hong Kong investors. Furthermore, CoinW has engaged local lawyers in Hong Kong to initiate the application process for the Virtual Asset Service Provider (VASP) license.

On June 1, 2023, the Hong Kong government officially implemented a new license regime for digital assets, opening up cryptocurrency investment and trading to retail investors. Ultimately, these recent developments position Hong Kong as a crucial player in the burgeoning Web3 landscape, with the impending CoinWHK launch further underscoring the commitment.