Welcome to read Techub News's "Weekly Highlights of Hong Kong Web3." In this week's report, we will summarize the significant events and developments in the Hong Kong Web3 sector from August 4 to August 10, along with the latest data insights and detailed event previews, helping you quickly and comprehensively understand the progress in Hong Kong's Web3 field last week.
Hot News
Hanyu Pharmaceutical to Explore RWA Tokenization Pilot Project in Hong Kong with KuCoin
According to Jiemian News, Hanyu Pharmaceutical has signed a strategic cooperation letter of intent with KuCoin, and both parties plan to jointly explore the first RWA tokenization pilot project in mainland China, based on "future revenue rights of innovative drug R&D" as the underlying asset. According to the agreement, Hanyu Pharmaceutical will leverage its technological accumulation and R&D pipeline in the GLP-1 peptide drug field as the underlying asset…
Bank of China Hong Kong Completes Second Phase Trial of "Digital Hong Kong Dollar +" Pilot Program
According to Ming Pao, Bank of China Hong Kong (2388) has completed the second phase trial of the "Digital Hong Kong Dollar +" pilot program, validating the application technology and value of digital currency in two commercial scenarios. Bank of China stated that in the prepaid consumption scenario, it tested the innovative "Unified Wallet" concept through a self-built alliance blockchain, and in practical testing, Bank of China Hong Kong collaborated with other banks…
China Development Publishing House has published a popular science book on stablecoins titled "Stablecoins Closely Related to Every Common Person." The author is Gao Chengshi, and the introduction states that stablecoins are becoming the bank for "unbanked people" and a safe haven for assets "not wanting to be eaten away by inflation," changing the way ordinary people live.
Hong Kong Jinzhu Asset Management Issues Tokenized Limited Partnership Fund on Ethereum
According to Hong Kong's Sing Tao Daily, licensed asset management company Jinzhu Asset Management has launched a tokenized limited partnership fund, "Global Bond Tokenized Income Limited Partnership Fund," denominated in US dollars and investing in diversified traditional financial assets, which is issued on the Ethereum public chain…
According to Sina Finance, Caocao Mobility has signed a strategic cooperation memorandum with licensed financial institution Victory Securities in Hong Kong, and both parties will conduct in-depth cooperation around three major directions: tokenization of real-world assets, stablecoin payment applications, and compliant digital currency issuance…
According to Cointelegraph, Hong Kong asset management company Trivest Advisors has disclosed its holdings of over $90 million in BlackRock's Bitcoin spot ETF IBIT shares.
The board of directors of Hong Kong-listed Delin Holdings announced that it has entered into placement and subscription agreements and special authorization subscription agreements, expecting to raise approximately HKD 653 million. Of this, about 30% will be used to support the group's strategic acquisitions and/or investments, and to expand RWA tokenization plans; about 15% will be used to develop Bitcoin mining business and establish Bitcoin reserves; about 7% will be used to establish a licensed virtual asset over-the-counter trading and retail network in Hong Kong…
According to Ming Pao, NPC Standing Committee member Yao Zhisheng stated that Hong Kong should compile a financial development white paper in a timely manner and clearly propose specific arrangements in this year's policy address, focusing on promoting the development of stablecoins and bond businesses to surpass London. He proposed four suggestions, including that the white paper should establish two strategic goals for Hong Kong's financial development, namely building a "dual foundation" international financial center based on the renminbi and US dollar, and positioning Hong Kong alongside New York as a global financial hub…
Hong Kong Aide Financial Group announced that rural digital asset service operator China Agricultural Credit has signed a strategic cooperation agreement with Aide Financial. Both parties will work together to promote agricultural tokenization of real assets projects and explore fundraising opportunities in Hong Kong, enhancing China Agricultural Credit's market position in the agricultural fintech sector. China Agricultural Credit will be responsible for screening, integrating, and managing basic assets related to agriculture and rural areas in China, coordinating cross-regional project resources, and providing high-quality assets…
According to Zhitong Finance, on August 7, Hong Kong Financial Secretary Xu Zhengyu stated in a speech at the "Anchoring" Web3.0 Future Summit and RWA Research and Technology Achievements Release Conference that tokenization, as a hotspot in global fintech, is profoundly changing the operation of financial markets. Hong Kong has achieved significant results in the field of tokenization, establishing a global leading position. In terms of optimizing the legal and regulatory framework…
According to Wen Wei Po, citing Hong Kong Radio, NPC Vice Chairman Leung Chun-ying stated in a speech at a summit forum on Web3.0 standardization that Web3.0 is driving the digital economy from information interconnection to value interconnection, but the accompanying institutional and technical challenges cannot be ignored…
Animoca Brands has established a joint venture, Anchorpoint Financial Limited, with Standard Chartered Bank (Hong Kong) and Hong Kong Telecommunications (HKT) in Hong Kong, aiming to build a business model focused on issuing and promoting licensed stablecoins…
The Hong Kong Monetary Authority stated that it has recently noticed a flyer circulating in the market with the HKMA logo regarding the sale of stablecoins. The HKMA clarified that it has not issued any such flyers and urged the public to be vigilant and pay attention to documents falsely claiming to be issued by the HKMA…
According to Caixin, the Hong Kong "Stablecoin Regulation" will take effect on August 1, 2025. In addition to introducing a licensing system for issuers, the regulation clearly states that non-permitted offerors holding five types of licenses will not be allowed to make stablecoin offers in Hong Kong. In other words, exchange shops that previously operated USDT and USDC stablecoin exchange businesses in Hong Kong will have to suspend such operations…
DePIN + AI open intelligent platform IoTeX today announced a strategic cooperation with licensed compliant trading platform HashKey Exchange, and both parties will jointly explore and build digital asset infrastructure, and based on this, initiate the co-construction process of the "AI Ecosystem Center."
This cooperation covers multiple key directions, including: the construction of a digital asset service system, identity verification (ioID) and trusted data access capabilities provided by the IoTeX Layer1 blockchain platform, as well as HashKey's compliance consulting…
China Merchants International Asset Management Co., Ltd. has reached cooperation with Singapore's RWA licensed exchange DigiFT, completing the tokenization of real-world assets (RWA) and on-chain distribution of the China Merchants International US Dollar Money Market Fund, achieving the first Hong Kong-Singapore mutual recognition fund on-chain. This token product has been recognized in Hong Kong and Singapore and will provide on-chain sales services to qualified professional investors on the DigiFT platform…
Industry Insights
What Impact Will the New Regulations on "Assisting Crimes" Have on the Crypto Space?
On July 28, 2025, the Supreme People's Court, the Supreme People's Procuratorate, and the Ministry of Public Security (hereinafter referred to as "the Three Authorities") held a joint press conference to release the "Opinions on Handling Criminal Cases Related to Assisting Information Network Criminal Activities" (hereinafter referred to as "the Opinions"), which provided more detailed regulations on the composition of the crime of assisting information network criminal activities, leniency, and mitigating circumstances.
On July 31, 2025, SEC Chairman Paul S. Atkins published an article stating that the SEC will launch "Project Crypto," aiming to promote the on-chain transformation of the US financial market through comprehensive regulatory reform, with the goal of restoring the US's absolute dominance in the global cryptocurrency market.
On August 1, 2025, Hong Kong officially implemented the "Stablecoin Regulatory Ordinance," bringing USDT, USDC, and other "designated stablecoins" under regulatory oversight. The ordinance explicitly prohibits offers, promotions, and sales of stablecoins without a license, with no transition period provided, forcing some OTC shops to suspend operations, sparking industry discussions. Techub News interviewed Roger Li, founder and CEO of OTC shop One Satoshi, to deeply explore the practical impacts of this ordinance, business responses, and judgments on future compliance paths.
Judicial Disposal of Virtual Currency, Economic Daily Reveals Details of Beijing's Disposal
On August 3, an Economic Daily report ("How to Dispose of Involved Virtual Currencies? Looking at Beijing's Exploration") provided detailed disclosures about the cooperation between the Beijing Municipal Public Security Bureau and the Beijing Equity Exchange (hereinafter referred to as "Beijing Exchange"). Meanwhile, Professor Yang Dong, Dean of the Law School at Renmin University of China, also mentioned many views on judicial disposal in the article, advocating for timely disposal and monetization by the authorities responsible for the seizure of virtual currencies across the country.
In this episode of Wu Says, Valentin Gui, head of Kraken's xStocks business, shared his views on stock tokenization. xStocks is a collaborative project involving Kraken, Backed, and Solana, aimed at providing synthetic exposure backed by real stocks for global users, especially those who cannot directly access the stock market.
“Are Pension Boosters in Place? How Big is the 401(k) Volume?”
A capital competition surrounding $12.5 trillion in retirement funds is about to unfold. This policy, aimed at allowing alternative assets such as private equity, real estate, and cryptocurrencies to enter 401(k) retirement accounts, is not only key to the Trump administration's reshaping of capital market rules.
“Hong Kong OTC Regulation's Three Evolutions: From 'Coin Shop Jianghu' to Comprehensive Management”
In June 2025, the Hong Kong government released the public consultation document "Legislative Proposal to Regulate Dealing in Virtual Assets," proposing to include all virtual asset trading services, including OTC, under a unified licensing regulatory framework. Although the proposal is still in the consultation phase and has not yet formed regulations, it outlines a clear blueprint for the next steps in Hong Kong's virtual asset regulation—from the early licensing of VATP platforms to the management of coin shops, and then to comprehensive coverage of VA dealing services. In summary: in three years, Hong Kong's regulation has moved from an OTC "vacuum zone" to full-chain management.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflows and Outflows
According to ichaingo data statistics, last week, the subscription and redemption volume for Hong Kong's Bitcoin spot ETF was 0, with a total ETF holding value of approximately $497 million, an increase of about $9 million in holding value; the subscription volume for the Ethereum spot ETF was 403 units, with a total holding value of approximately $94.5 million, also increasing by about $9 million in holding value.
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