To further push digital assets and blockchain technology from concept to practical application, Cyberport launched the "Blockchain and Digital Assets Pilot Subsidy Scheme" in June 2025. The scheme aims to provide funding support and real application scenarios for exemplary, high-impact, and benchmark potential blockchain and Web 3.0 projects, facilitating the transition of emerging technologies from concept to practical application, addressing pain points at different levels.

The scheme encourages participating enterprises to collaborate with sizable sponsors to test and validate commercialization potential in real-world environments. Each eligible pilot project can receive up to 80% of the total expenditure as funding, with a maximum grant amount of HKD 500,000. Following its launch, the scheme generated enthusiastic responses, receiving over 200 applications, with a total of 9 projects successfully shortlisted. These projects covered several cutting-edge areas, including real-world asset tokenization (RWA), stablecoin infrastructure, and anti-money laundering for digital currencies.

The scheme concluded at the beginning of this year, and the 9 selected enterprises exhibited significant commercial value and market potential. Survey results indicated that all participating companies expect to achieve broader customer applications within the next 12 months. In addition to promoting commercial implementation, the survey also showed that over half of the enterprises successfully established new partnerships, effectively strengthening the collaborative network and technical capabilities between startups and large enterprises, enhancing comprehensive capabilities in products, technology, and risk control.

From Concept to Implementation: How PCG Connects Stablecoin Settlements through Cyberport

Among the many shortlisted projects, PCG (The Payment Cards Group Limited), known as "Transaction Treasure" in Chinese, has become one of the key demonstration cases for Cyberport's scheme. Previously, cross-border trade relied on SWIFT and intermediary banks, which had slow processes, high costs, and lacked transparency, with funds typically taking 2 to 3 business days to arrive, further increasing cash flow pressure on enterprises.

With support from Cyberport, PCG designed and tested a payment settlement framework combining blockchain technology in the pilot scheme, integrating traditional card payments with Web3 technology, exploring the use of stablecoins as a digital settlement medium, and integrating with existing payment infrastructure (including merchant acquiring systems and card payment networks) to ensure operations within compliance and regulatory frameworks. The program simulated cross-border transactions from Australia to Hong Kong in a controlled environment, achieving fast, secure, and compliant settlement processes through blockchain, with overall transactions completed in about 5 seconds and costs reduced by up to 90%, while supporting real-time reconciliation, programmable payments, and cross-border expansion capabilities, providing merchants with more efficient and transparent capital settlement solutions.

Michael Xu Yutao, Regional Product Director of PCG (in the above image), noted when discussing current progress that the focus of the project at this stage is on verifying the feasibility of the technical framework, covering the design of blockchain settlement processes, system integration, and related compliance considerations. The team is also testing different application scenarios through pilots and merchant tests to assess the operating modes of stablecoins in payment settlements.

Michael pointed out that the reason for selecting Hong Kong for this project validation is the hope to place the business within a rapidly maturing digital asset ecosystem with a clear regulatory framework, rather than remaining a technical demonstration disconnected from the real market. He emphasized that PCG's goal is not only to demonstrate the "feasibility" of blockchain and stablecoin settlements at a technical level but also to use the pilot platform built by Cyberport to jointly explore scalable business models with local financial institutions, enabling solutions to be robustly integrated into Hong Kong's digital economy infrastructure.

In response, Cyberport's Director of Blockchain and Digital Assets, Li Yizheng (second from the right in the image) stated, "Cyberport has always been committed to assisting enterprises in conducting technical tests within a compliant framework. Through this pilot subsidy scheme, we are very pleased to see outstanding startups like PCG successfully validate the commercial potential of their technology in an environment close to actual business. This not only confirms the vitality of the Hong Kong Web 3.0 ecosystem but also embodies Cyberport's core mission as a 'super connector' to open pathways for enterprises to 'land in Hong Kong', linking technological innovation with the real economy."

Looking Ahead: Cyberport Leading a New Chapter in Web 3.0

As the largest local blockchain and digital asset community, Cyberport has gathered over 310 relevant enterprises from 19 countries and regions (including 1 listed company and 2 unicorns) since establishing its Web 3.0 base in 2023, covering various fields such as fintech, cybersecurity, and smart cities. Additionally, Cyberport has established the "Web 3.0 Investment Circle" (W3IC) under the "Cyberport Investors Network," involving nearly 50 investment institutions that continuously inject dedicated capital momentum into relevant projects.

In the future, Cyberport will continue to closely cooperate with the development policies of the SAR government, maintaining close communication with the industry and regulatory bodies. Through hosting professional forums and exchange activities, providing "sandbox" testing environments, and various support programs, Cyberport will assist enterprises in conducting innovative experiments and scenario applications within a compliant framework, further accelerating the robust development of the local digital asset ecosystem.

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