In the context of heightened global geopolitical tensions and increasing economic uncertainty, Hong Kong's resilience and attractiveness as an international financial center have once again come to the forefront. On November 23, 2025, the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, published a blog post, clearly stating that Hong Kong is becoming a "safe haven" for global capital. The total amount of bank deposits has further increased by over 10% this year, following a 7% rise last year, exceeding HKD 19 trillion. New stock fundraising activities are leading globally, and the wealth management industry is thriving. Numerous international institutions are planning to increase their workforce and expand their operations in Hong Kong. Against this macroeconomic backdrop, Hong Kong's continuous innovation in the Web3 sector, particularly in stablecoin regulation and virtual asset service license upgrades, is injecting new vitality into this financial metropolis.
- Hong Kong: A "Safe Haven" for Global Capital
Paul Chan pointed out that due to geopolitical influences, global investors are reassessing the risks in their asset portfolios and adjusting their investment strategies to diversify risks, making Hong Kong a safe haven for capital.
Surge in bank deposits: The total amount of bank deposits in Hong Kong has further increased by over 10% this year, following a 7% rise last year, reflecting international confidence in Hong Kong.
Leading new stock fundraising: New stock fundraising activities are leading globally, attracting many cornerstone investors from the West and the Middle East.
Thriving wealth management: The wealth management industry is thriving, with ongoing deepening of financial cooperation with various parts of the world.
International institutions increasing workforce: Recently, many international financial leaders attending conferences in Hong Kong have indicated that their institutions plan to increase their workforce and expand their operations, further confirming Hong Kong's attractiveness.
- Stablecoin Regulation: Hong Kong Builds the Most Compliant Digital Asset Center
While attracting global capital, Hong Kong has also established a clear regulatory framework for virtual asset regulation, particularly in the issuance and regulation of stablecoins.
"Fiat-backed stablecoins": Paul Chan stated that Hong Kong only allows the compliant issuance of "fiat-backed stablecoins" supported by legal tender.
Strict regulatory requirements: Relevant institutions must strictly adhere to regulatory requirements to ensure transparency in issuance and asset safety. Regulatory authorities have set several key requirements for stablecoin issuers, including:
Capital threshold: Applicants must have a capital scale of at least HKD 25 million to ensure sufficient financial strength to operate and manage market risks.
Asset management requirements: The fiat funds collected by issuers must be invested in highly liquid, low-risk assets to ensure that the value of the stablecoin is reliably supported.
Redemption mechanism: Issuers must establish clear and executable redemption arrangements, allowing holders to exchange fiat currency on a one-to-one basis within a short period, safeguarding user rights.
Independent audits and compliance proof: Stablecoin issuers must also provide compliance proof to regulatory authorities through independent audits. For example, professional audit firms like Deloitte will issue audit reports according to regulatory requirements, verifying that the assets held by issuers are indeed low-risk categories and ensuring that asset allocation is consistent with public disclosures, thereby enhancing market confidence.
Paul Chan believes that Hong Kong's comprehensive regulatory framework not only protects investor safety but also lays a solid foundation for the development of stablecoins and the Web3 industry, helping to attract more international institutions to issue or use stablecoins in Hong Kong, promoting the continuous development of the local virtual asset ecosystem.
- Virtual Asset Services: Expansion and Upgrading of Licensed Institutions
Under a clear regulatory framework, licensed virtual asset service institutions in Hong Kong are also actively expanding and upgrading to provide more comprehensive services for institutions and professional investors.
LTP HK license upgrade: Digital asset prime broker and fintech service provider LTP (LiquidityTech Limited) announced that its subsidiary, LTP HK, has officially received confirmation from the Hong Kong Securities and Futures Commission (SFC) to upgrade its Type 1 regulated activity (securities trading) license.
Complete VA-in/VA-out services: This upgrade signifies that LTP HK can provide clients with complete virtual asset deposit (VA-in) and withdrawal (VA-out) services as a licensed institution. Prior to this license upgrade, although LTP HK already held Type 1, 2, 4, 5, and 9 regulated activity licenses issued by the SFC, its virtual asset services were limited to fiat currency deposits and withdrawals. After this upgrade, institutions and professional investors can now directly use mainstream tokens for fund deposits and withdrawals through LTP HK's SFC-regulated platform, seamlessly connecting to LTP HK's comprehensive regulated trading and brokerage services.
Conclusion:
Hong Kong is standing out in the global economic landscape with its unique charm and prudent strategies, becoming a safe haven for capital. The total amount of bank deposits has surpassed HKD 19 trillion, and international institutions are planning to increase their workforce; these figures all confirm Hong Kong's strong resilience and attractiveness as an international financial center. In the Web3 era, Hong Kong is building a safe, transparent, and efficient ecosystem for the digital asset market through a comprehensive stablecoin regulatory framework, strict licensing requirements, and service upgrades of licensed institutions. This will not only provide global investors with more diversified asset allocation options but also solidify Hong Kong's core position in the future digital financial landscape.
Related Reading: "Rich Dad Poor Dad" author Robert Kiyosaki sells Bitcoin (BTC) worth $2.25 million.
Original article: “Paul Chan: Hong Kong Becomes a Global Safe Haven for Capital as Deposits Surpass HKD 19 Trillion”
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