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 September 1 to September 7, 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
Insider: Bank of China Hong Kong plans to apply for a stablecoin issuer license
According to a report by the Hong Kong Economic Journal citing insiders, following the announcement by the joint venture led by Standard Chartered Hong Kong expressing its intention to apply for a stablecoin issuer license, Bank of China Hong Kong is also interested in applying and aims to become one of the first issuers to be approved…
Hong Kong-listed company Haotian International Investment announced that its wholly-owned subsidiary, Haotian International Securities, plans to apply to the Hong Kong Securities and Futures Commission to provide virtual asset trading services through a comprehensive account arrangement, pending approval from the Hong Kong Securities and Futures Commission…
According to Ming Pao, Hong Kong's Secretary for Financial Services and the Treasury, Xu Zhengyu, stated during a meeting of the Legislative Council's Financial Affairs Committee that the government will make the issuance of tokenized bonds a regular practice, and the Monetary Authority is preparing to assist the government in issuing the third batch of tokenized bonds…
Sanwei Xinan: Actively laying out Web3.0 application scenarios such as stablecoins and RWA
According to Jin10 data, Sanwei Xinan stated on its interactive platform that RWA, stablecoins, and other Web3.0 applications are all based on blockchain technology. The company has years of technical accumulation in the field of blockchain security, and the GM/T0111-2021 "Technical Requirements for Blockchain Cryptography Applications" formulated by the company is the first blockchain cryptography industry standard in China…
Zhong An Smart Life: Will cooperate with a licensed virtual asset operating platform in Hong Kong
According to Jin10 data, Zhong An Smart Life (02271.HK) announced that it will cooperate with a licensed virtual asset operating platform in Hong Kong. This platform will provide digital asset infrastructure support for Zhong An Smart Life, helping it explore cryptocurrency asset custody and allocation paths within a compliant framework and promote the construction of an innovative digital ecological platform…
According to the Hong Kong Economic Journal, Hong Kong-listed company Haotian International Investment announced that its wholly-owned subsidiary, Haotian International Securities, plans to apply to the Hong Kong Securities and Futures Commission to provide virtual asset trading services through a comprehensive account arrangement, pending approval from the Hong Kong Securities and Futures Commission…
Digital Currency Group (DCG) considers a $500 million IPO in Hong Kong
According to Wall Street Watch, DCG is considering an IPO in Hong Kong to raise approximately $500 million…
According to the Hong Kong Securities and Futures Commission, the Commission has imposed a lifetime ban on Sun Jianrong from re-entering the industry…
Hong Kong Fosun plans to tokenize $328 million worth of Sisram Medical stock
Hong Kong Fosun Wealth Holdings plans to tokenize $328 million worth of stock in Israeli medical company Sisram Medical, which has successfully connected to multiple chains such as Vaulta, Solana, Ethereum, and Sonic…
In an interview with RTHK, Mak Wing-chung, Director of Greater Bay Area Development Research at Unity Hong Kong Fund, stated that the clear regulatory and policy direction for stablecoins in Hong Kong has attracted many institutions, and the current intention to apply for licenses far exceeds expectations. He believes that large technology companies will tend to use stablecoins in payment scenarios…
Wu Jiezhuang: Hong Kong may issue its first stablecoin license early next year
Hong Kong Legislative Council member Wu Jiezhuang recently stated in an interview that the stablecoin regulations in Hong Kong are very strict, and the number of licenses issued is very limited. It is possible that one license will be issued early next year. After the license is issued, it must also comply with the legal requirements of the country where the application is implemented. Additionally, the Hong Kong Legislative Council will also expedite the legislative process for offline OTC next year…
According to the Hong Kong Economic Journal, Liu Jing, Chief Economist for Greater China at HSBC Global Investment Research, stated that if central bank digital currencies, especially the digital RMB (e-CNY), are combined with Hong Kong's "Stablecoin Regulation," it may bring greater opportunities and developments for the future internationalization of the RMB…
EX.IO officially enters the Saudi Arabian market
According to the latest information from the Saudi Arabian Capital Market Authority (CMA), Hong Kong licensed virtual asset exchange EX.IO has successfully obtained approval for its subsidiary Savy Financial to pilot social trading services in Saudi Arabia…
Market news: The Hong Kong SAR government is preparing for the third issuance of digital bonds
According to market news, the Hong Kong SAR government has commissioned banks to prepare for a potential digital bond issuance. If this issuance proceeds, it will be the third issuance of digital bonds in Hong Kong. The Hong Kong SAR government successfully issued HKD 800 million in tokenized green bonds under the government green bond program in 2023…
Industry Observation
Nasdaq's regulatory crackdown causes crypto treasury sector to collapse overnight
Overnight, a regulatory notice from Nasdaq abruptly cooled the frenzied crypto asset treasury craze, putting the model of publicly traded companies issuing stock to buy cryptocurrencies under severe scrutiny.
The Nasdaq exchange is strengthening its review of listed companies' investments in cryptocurrencies, requiring some companies to obtain shareholder approval before issuing new shares to purchase tokens and to disclose this information to the market in a timely manner. Failure to comply with these regulations may result in delisting and trading suspension.
This regulatory move quickly shook the market, causing a significant drop in the stock prices of many crypto asset treasury companies (DATs).
Among them, tokens and companies linked to the Trump family project saw the most significant declines, with ALT5 Sigma Corp's stock price plummeting by 12%, and the cumulative decline over the past week has exceeded 50%.
This regulation aims to ensure that investors fully understand the associated risks and to slow down the current cryptocurrency craze.
The Nasdaq's review was based on an internal examination of trading activities. The review uncovered patterns associated with "pump and dump" schemes, particularly in the U.S. cross-market trading environment, where the cryptocurrency sector occupies a certain proportion.
Hong Kong plans to issue the third digital bond
The Hong Kong SAR government is actively preparing for the third issuance of sovereign digital bonds, marking its continued advancement in the blockchain finance sector. According to insiders, Hong Kong has designated a group of banks to design this transaction, although the issuance scale and specific timing have yet to be determined. This move not only continues Hong Kong's exploration in the field of tokenized bonds but also demonstrates its ambition to build a global digital financial center.
Hong Kong's digital bond market has developed rapidly in recent years. In February 2023, Hong Kong successfully issued its first tokenized green bond, which was warmly welcomed by institutional investors. A year later, Hong Kong further launched multi-currency digital bonds, solidifying the potential of blockchain technology in the traditional debt market. The successful issuance of these two bonds has laid a solid foundation for the upcoming third sovereign digital bond.
Sun Yuchen's wallet blacklisted, WLFI token price plummets causing centralization controversy
Recently, World Liberty Financial (WLFI) took the rare step of blacklisting the crypto wallet of Tron founder Sun Yuchen, freezing billions of WLFI tokens associated with him. This move triggered a violent market reaction, with the WLFI token price plummeting by 50% at one point, dropping to a low of $0.16, and although it briefly rebounded to $0.18, it still fell over 15% from the previous day. This incident not only intensified community concerns about centralization risks and governance transparency but also made Sun Yuchen's fund movements a market focus.
According to data from blockchain analysis platforms Arkham and Nansen, the wallet controlled by Sun Yuchen conducted large-scale on-chain transactions after the WLFI token was launched, including transferring 50 million WLFI (worth approximately $9 million) to a new address and depositing over 5.289 million WLFI (worth approximately $1.19 million) to HTX (formerly Huobi). Additionally, Wu Jihan's blockchain pointed out that a wallet associated with HTX transferred 60 million WLFI to Binance within 32 hours, raising speculation about Sun Yuchen possibly increasing liquidity through exchanges.
Arkham data shows that Sun Yuchen holds approximately 595 million unlocked WLFI, worth about $107 million, accounting for nearly 20% of his unlocked assets, with another 2.4 billion WLFI still locked under ownership agreements. He had spent $75 million to acquire 3 billion WLFI and additionally received 600 million tokens during the unlocking period, becoming one of the largest individual investors in the project. However, just days after the WLFI was listed, Sun Yuchen's wallet was frozen on suspicion of price manipulation, locking up 540 million unlocked tokens (worth approximately $100 million) and 2.4 billion locked tokens, totaling nearly $900 million in value.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflows and Outflows
According to ichaingo data, last week the subscription volume for Hong Kong Bitcoin spot ETFs was 29.66 units, with a total ETF holding value of approximately $493 million, an increase of about $1.3 million in holding value; the subscription volume for Ethereum spot ETFs was 806.79 units, with a total ETF holding value of approximately $132 million, an increase of about $3 million in holding value.
Event News
2025 Hong Kong WOW Artificial Intelligence Summit
Hosted by WOW SUMMIT, the conference will be held on September 9 in Hong Kong, aiming to bridge the gap between AI innovation and real-world applications. From cutting-edge technological advancements to practical business solutions, attendees will gain unprecedented insights into how AI is reshaping business, enhancing productivity, and fundamentally changing the way we live, work, and interact.
EXIO Group RWA Theme Series Event Phase Three: RWA Selection Meeting
Hosted by EX.IO, the meeting will be held on September 9 in Hong Kong. Following the heated discussions sparked by the first two selection meetings, EXIO Group is upgrading and launching the third RWA selection meeting! This session focuses on "breaking the circle and integration," selecting six major innovative track projects to showcase the unlimited possibilities of RWA empowering the real economy!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
