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 November 3 to November 9, 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
Hong Kong listed company Moon Inc. announced that it has increased its holdings by 6.12 Bitcoins at an average price of $109,800…
John Lee: Encouraging more investors to enter the fintech sector
According to Jin10 data, Hong Kong Chief Executive John Lee stated during the opening speech at Hong Kong Fintech Week that there are currently over 1,200 fintech companies in Hong Kong, a 10% increase from last year, and it is expected that the total revenue of Hong Kong's fintech industry will exceed $600 billion by 2032…
According to Jin10 data, Yu Weiwen, the president of the Hong Kong Monetary Authority, stated that Hong Kong's total spending on technology investment is expected to reach…
John Lee: Hong Kong will deepen the stock market and expand world-class bond and currency markets
According to Wen Wei Po, Hong Kong Chief Executive John Lee stated today during his speech at Hong Kong Fintech Week that the policy address proposes a series of measures to promote economic growth and strengthen Hong Kong's competitiveness, aiming to consolidate Hong Kong's status as an international financial center by deepening the stock market and expanding world-class bond and currency markets…
According to Jin10 data, the CEO of HSBC stated that the bank's tokenized gold product has achieved "mass adoption" among retail customers in Hong Kong…
According to Jin10 data, the CEO of Standard Chartered stated that both the bank and the leadership of the Hong Kong SAR believe that all transactions will eventually be settled through blockchain…
According to Jin10 data, Leung Fung-yee, CEO of the Hong Kong Securities and Futures Commission, stated that Hong Kong will allow local licensed virtual asset trading platforms to share global order books with overseas affiliates…
According to the Hong Kong Radio website, Lu Lei, Vice Governor of the People's Bank of China, stated during his speech at the Hong Kong Fintech Week Startup Festival that the central bank attaches great importance to cross-border payment cooperation with Hong Kong and is actively promoting payment connectivity between the two regions…
The Hong Kong Securities and Futures Commission published a circular on "Liquidity Sharing for Virtual Asset Trading Platforms" and a circular on "Expanding Products and Services for Virtual Asset Trading Platforms," outlining the expected standards for licensed virtual asset trading platform operators…
According to Ming Pao, Yu Weiwen, president of the Hong Kong Monetary Authority, announced the next phase of the fintech development blueprint "Fintech 2030," which focuses on four major strategies, including data, artificial intelligence, resilience, and tokenization (DART), with a total of 40 projects and measures. Regarding tokenization, Yu Weiwen indicated it is an important channel for innovation…
According to Sing Tao Daily, during Hong Kong Fintech Week, Financial Secretary Paul Chan stated that digitalization is the key driving force for transformation in the financial industry, and technologies such as AI and blockchain can significantly enhance service efficiency and optimize credit assessment…
According to Caixin, the Hong Kong Monetary Authority stated that it will initiate projects to formulate a "post-quantum cryptography blueprint" in preparation for the quantum era, proactively preventing the threat that commonly used digital encryption methods by financial institutions may be cracked after the widespread adoption of quantum computers, and will work with the industry to prepare for the transition to post-quantum cryptography (PQC)…
HSBC Group launches tokenized deposit services for Hong Kong customers
According to Jin10 data, HSBC Group CEO Noel Quinn stated at the 2025 International Financial Leaders Investment Summit that missing out on the application of disruptive technologies will be a significant risk. Quinn pointed out that blockchain technology is an important opportunity…
Eric Yip, a member of the Executive Committee of the Hong Kong Securities and Futures Commission, stated at the Hong Kong Finternet 2025 Asia Digital Assets Summit that Hong Kong's regulatory legislation for digital assets still requires more time, and appropriate legislation needs to be conducted dynamically while listening to the voices of this vibrant market and industry to ensure that the regulatory approach keeps pace with the times…
Yip Chi-hang, Executive Director of the Hong Kong Securities and Futures Commission, stated at the 2025 Finternet Asia Digital Finance Summit that the Hong Kong Securities and Futures Commission will launch an "acceleration plan" in the coming months to expedite the development of innovative products and services, acting as a bridge between regulation and the market…
Yu Weiwen, president of the Hong Kong Monetary Authority, stated at the 2025 International Financial Leaders Investment Summit that the past year has been quite challenging for the financial environment, with continuous changes in the macro background, slowing economic growth, rising government debt, and long-term uncertainties in trade and geopolitical economics. Artificial intelligence and cryptocurrencies have brought new dimensions and challenges to traditional financial intermediary services…
According to Zhaojin Mining Co., Ltd., during Hong Kong Fintech Week, Zhaojin Mining signed a strategic cooperation memorandum with Ant Group's SigmaLayer. The two parties will collaborate in three major areas: digitalization of gold assets, intelligent supply chain risk control, and ESG credible value transmission, leveraging blockchain, tokenization technology, and AI capabilities…
The Finternet 2025 Asia Digital Finance Summit, supported by the OSL Group, was held in Hong Kong on November 4. At the summit, Nischint Sanghavi, Visa's Asia-Pacific digital currency head, stated that Visa is integrating stablecoins into its existing payment systems, especially in the cross-border payment sector for e-commerce…
Police investigate and freeze HKD 2.75 billion assets of Chen Zhi Prince Group
The police are investigating a group suspected of being involved in international cross-border telecommunications fraud and money laundering, freezing assets worth HKD 2.75 billion, including cash, stocks, and funds owned by individuals or companies, believed to be criminal proceeds…
The "Hong Kong Fintech Summit and New Fire Technology Product Launch Conference," co-hosted by Hong Kong listed company New Fire Technology (1611.HK), Avenir Group, and Techub News, was held at the Grand Hyatt Hong Kong…
According to Hong Kong media Ming Pao, the Hong Kong police have prosecuted 16 individuals in the JPEX case, including internet celebrity Lam Chok. The case will be heard tomorrow at the Eastern Magistrates' Court. Among the 16 accused, 6 are core members of JPEX, charged with conspiracy to defraud, money laundering, and obstructing justice; 7 are members of a virtual currency over-the-counter trading platform; and 3 are puppet account holders…
Franklin Templeton launches its first tokenized money market fund in Hong Kong
According to The Block, Franklin Templeton has launched its first tokenized money market fund, the Franklin OnChain U.S. Government Money Fund, supported by short-term U.S. Treasury bonds, issuing shares and recording ownership through blockchain…
On November 5, the "Hong Kong Fintech Summit and New Fire Technology Product Launch Conference," co-hosted by Hong Kong listed company New Fire Technology (1611.HK), Avenir Group, and Techub News, was grandly launched at the Grand Hyatt Hong Kong. New Fire Technology COO Xing Yue spoke on "Rejecting Black Swans: The Future Form of Digital Asset Institutional Liquidity and Exchanges"…
Hong Kong police escort Lam Chok to Eastern Court for JPEX case hearing
According to Ta Kung Pao, the progress of the fraud case involving the virtual currency trading platform JPEX has seen the police prosecute 16 individuals, including Lam Chok, with the case being heard this morning at the Eastern Magistrates' Court…
UXUY launches Chinese name "Postman," symbolizing safe and efficient on-chain trading services
The on-chain exchange UXUY officially announced during Hong Kong Fintech Week that it will use the Chinese brand name "邮差" (Postman). This name was selected through a month-long public solicitation and voting process by the UXUY community, with "邮差" receiving a 95.1% support rate, becoming the official Chinese name for UXUY.
According to Ming Pao, Sifang Jingchuang Information (Hong Kong), a wholly-owned subsidiary of Shenzhen Sifang Jingchuang, signed a memorandum of cooperation with Hong Kong Cyberport to jointly launch "Blockchain Town @ Cyberport"…
The Eastern Magistrates' Court in Hong Kong ruled in a criminal prosecution case initiated by the Securities and Futures Commission that financial influencer Chow Pak-hin (formerly known as Chow Kin-hei) was guilty of providing investment advice in a subscription-based chat group he established and managed on Telegram without a license. Chow was sentenced to six weeks in prison and ordered to pay the investigation costs of the Securities and Futures Commission…
According to a press release from the Hong Kong government, Hong Kong's Secretary for Financial Services and the Treasury, Xu Zhengyu, stated in an interview that the market's response to the application of AI, blockchain, and tokenized products is very positive and rapid. As fintech continues to develop…
Industry Observations
How to inherit virtual currency: Legal characterization and practical dilemmas
As digital assets become increasingly popular, the inheritance of virtual currency has gradually become an unavoidable legal and practical issue. When life comes to an end, what will happen to the wealth stored on the blockchain? Are they legally protected, and what challenges will arise during the inheritance process?
This article will explore the legal characterization and practical challenges of virtual currency inheritance from a lawyer's perspective, combining legal provisions and typical cases.
Robinhood Q3 earnings report exceeds expectations, competing with Coinbase for financial "super app"
The day before yesterday, Robinhood released its Q3 2025 earnings report, which, like Coinbase's earlier report, exceeded market expectations. Analyzing the financial reports of both companies reveals that they embody completely different business logics, with the only similarity being that both Robinhood and Coinbase aim to become game changers in the crypto market as it gradually merges with the mainstream financial system. This is not only a competition in trading volume and financial report figures but also a showdown over who can reshape the rules of financial trading in the coming years.
Robinhood's cryptocurrency trading revenue increased by 339% year-on-year to $268 million, with trading volume reaching $80 billion, driving overall revenue to $1.27 billion, significantly surpassing market expectations. Meanwhile, previously actively expanded new businesses, including prediction markets and the acquisition of Bitstamp exchange, both have already achieved annualized revenues exceeding $100 million.
The Hong Kong Monetary Authority's "Ensemble" project sandbox and the latest "Fintech 2030" strategy are creating a policy high ground, attracting a group of "national team" members such as China Resources and COSCO Shipping, transforming vast physical assets and financial expertise into new competitive advantages in the digital age.
According to China News Service on November 3, the Hong Kong Monetary Authority, in the "Fintech 2030" strategy announced on the same day, explicitly listed "promoting financial tokenization" as one of the four pillars, aiming to promote the vigorous development of Hong Kong's tokenization ecosystem. Meanwhile, market news indicates that the central enterprise China Resources Longdi has issued RWA tokenized products based on the revenue rights of its electric vehicle charging stations, marking a significant landing for central enterprises in this field.
In-depth analysis of the Balancer V2 attack incident
On November 3, 2025, Balancer V2's Composable Stable Pools and several cross-chain fork projects were attacked, resulting in total losses exceeding $125 million. BlockSec issued an early warning [1] and subsequently released a preliminary analysis report [2]. This was a highly complex attack. Our investigation revealed that the root cause was a loss of precision in the invariant calculation, leading to price manipulation that distorted the price calculation of BPT (Balancer Pool Token). This invariant manipulation allowed the attacker to profit from a specific stable pool through a single batch swap.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflows and Outflows
According to ichaingo data statistics, last week the redemption volume of Hong Kong Bitcoin spot ETFs was 231.88, with a total ETF holding value of approximately $388 million, a decrease of about $55 million in holding value; the redemption volume of Ethereum spot ETFs was 456.73, with a total ETF holding value of approximately $108 million, a decrease of about $17 million in holding value.
Event Information
"EXIO Group RWA Theme Series Event Phase Four: RWA Selection Meeting"
The "EXIO Group RWA Theme Series Event Phase Four: RWA Selection Meeting" will be held on November 14 from 16:00 to 18:00 in Hong Kong, hosted by EX.IO. The event focuses on three major trends: "Consumption as Investment, Financial Equality, and Entertainment Assetization," selecting 6 innovative track projects to showcase how RWA can reshape the future of the integration of the real economy and Web3.
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