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SEBA Bank Secures SFC License, Expanding Crypto Services to Hong Kong

by Blockchain NewsNovember 9, 2023

Switzerland-based cryptocurrency bank SEBA Bank has marked a significant milestone by obtaining a license from the Hong Kong Securities and Futures Commission (SFC). The license, granted on November 3rd, represents a crucial step for SEBA in expanding its cryptocurrency services in the Asia Pacific region. SEBA Hong Kong, a subsidiary of SEBA Bank, is now authorized to offer a range of cryptocurrency-related services within the area, as confirmed by the SFC’s official website.

SEBA Bank established its first Hong Kong office in November 2022, underlining its strategy to broaden its service spectrum in Asia. Following an initial permission in principle from the SFC in August 2023 for virtual asset trading services, the recent licensing confirms SEBA’s operational expansion outside its home country, including a presence in Abu Dhabi.

With this new license, SEBA can engage in the trading and distribution of all securities, encompassing digital asset-related products like over-the-counter (OTC) derivatives. Moreover, the license allows SEBA to provide advisory services on securities and digital assets and manage assets for discretionary accounts, which include both traditional and digital assets.

SEBA’s services, facilitated by this license, will cater to institutional and professional investors such as corporate treasuries, funds, family offices, and high-net-worth individuals. Franz Bergmueller, the Chief Executive Officer of SEBA, expressed enthusiasm in an official statement, highlighting Hong Kong’s pivotal role in the cryptocurrency economy since Bitcoin’s inception and the bank’s eagerness to contribute to Hong Kong’s digital asset market.

Hong Kong’s rigorous licensing system permits only a select few platforms to cater to both local and foreign clients, including retail customers. Upon the government’s announcement to license crypto-related businesses, approximately one hundred firms showed interest in establishing Hong Kong branches. However, only a handful have successfully navigated the regulatory landscape to obtain clearance.

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CMCC Global’s Titan Fund Secures $100M for Asian Blockchain Ventures

by Blockchain NewsOctober 6, 2023

Titan Fund, which is managed by CMCC Global, has closed its inaugural investment round on October 4, raising $100 million with the involvement of over 30 investors. Among the prominent investors are the blockchain startup Block.one, the Pacific Century Group, owned by Hong Kong business magnate Richard Li, Winklevoss Capital, Jebsen Capital, and Yat Siu, creator of Animoca Brands. The financing comes at a time when the cryptocurrency industry is facing a financial crisis as a direct result of a string of failures that occurred in the previous year, one of which being the bankruptcy of the exchange FTX.

CMCC Global’s fourth fund, known as the Titan Fund, will concentrate its investments on three primary areas: blockchain infrastructure, consumer applications such as gaming and NFTs, and financial services such as exchanges, wallets, and lending platforms. This fund was created by CMCC Global. Mocaverse, a non-fungible token (NFT) initiative located in Hong Kong that received $20 million in September is one of the early investments made by the fund. Terminal 3, a Web3 data infrastructure start-up also based in Hong Kong, is another initial investment.

According to CMCC Global co-founder Martin Baumann, the company was created in Hong Kong in 2016 with the intention of making investments in “the best entrepreneurs globally.” The company has a “natural attachment” to Hong Kong and believes that the city possesses “a lot of potential” for innovation in the field of financial technology. Recently, Hong Kong has changed its attitude on cryptocurrencies, proposing new legislation that will go into effect in October 2022 and would permit licenced cryptocurrency exchanges to welcome retail traders as customers. Because of the modification to the regulation, the city is becoming an increasingly attractive location for crypto companies.

According to statistics provided by PitchBook, the value of worldwide venture capital investments in cryptocurrency companies had a decrease of 70.9% year-on-year, while the number of transactions experienced a decrease of 54.5%. Despite the difficult conditions, CMCC Global remains bullish on the long-term prospects of the cryptocurrency and blockchain industries, especially in Asia, and has launched a new fund to demonstrate this confidence.

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Tagged : BLOCKCHAIN START-UPS / CMCC GLOBAL / CRYPTO FUNDING / Hong Kong / MOCAVERSE / News / PITCHBOOK / TERMINAL 3 / TITAN FUND / Venture-Capital

DFINITY Unveils $20 Million ICP Asia Alliance to Propel Web3 Adoption

by Blockchain NewsOctober 1, 2023

On September 28, 2023, the DFINITY Foundation, a non-profit R&D entity and a significant player in the Internet Computer Protocol (ICP) blockchain sphere, launched the ICP Asia Alliance and initiated a $20 million grant fund to bolster blockchain and AI endeavors in Asia. The alliance, rooted in Zurich and Hong Kong, focuses on promoting Internet Computer blockchain uptake, nurturing collaborations, and catalyzing innovation within the booming Web3 and AI domain in Asia.

The ICP Asia Alliance emerges as a catalyst for a robust Web3 and AI ecosystem in Asia, aspiring to aggregate a myriad of stakeholders like government bodies, investors, tech innovators, academia, developers, and community constituents. The platform it establishes aims at incubating education, innovation, and collaboration, thus enabling entities and individuals to leverage the transformative attributes of Web3 and AI technologies.

DFINITY’s Founder and Chief Scientist, Dominic Williams highlighted Asia’s growing significance in the web3 ecosystem, noting the region’s early support for ICP and DFINITY. He acknowledged the prowess of Asian developers and recognized Hong Kong’s evolving stature as a global cryptocurrency nexus, driven by progressive governmental web3 initiatives, making it an apt launchpad for the ICP Asia Alliance.

The escalating trend of web3 and blockchain entities extending their footprint in Asia underscores the region’s ascending role as a global hub for blockchain and web3 innovation. The conducive regulatory ambiance in financial epicenters like Hong Kong and Singapore further accentuates the sector’s growth trajectory. The grant fund via the ICP Asia Alliance is envisaged to unlock the potential of Asian developers in sculpting the future of web3 on the Internet Computer.

DFINITY’s resolve to nurture growth in the region is epitomized by the inception of numerous ICP.Hubs across Asia, including in territories like Hong Kong, India, Malaysia, the Philippines, South Korea, Indonesia, and Singapore, since the year’s onset. These hubs are pivotal in fostering a burgeoning ICP community, encompassing efforts in education, strategic alliances, and project acceleration. They are poised to collaborate intimately with Alliance members in crafting ICP solutions across key regions. Alongside, DFINITY is on course to forge strategic affiliations with diverse institutions and organizations across Asia, poised to join the Alliance soon.

The ICP Asia Alliance is devoted to inclusivity, offering support for projects and amalgamating community members, developers, entrepreneurs, and educational establishments, thereby playing a crucial role in expediting the Internet Computer blockchain technology adoption across Asia.

The DFINITY Foundation, with a vision to decentralize cloud computing, is a vanguard in the cryptographic and distributed computing realm. By creating the Internet Computer, the foundation epitomizes a significant contributor to this network, advancing its mission in a burgeoning digital landscape.

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Tagged : AI DEVELOPMENT / ASIAN DEVELOPERS / Blockchain / DFINITY FOUNDATION / GRANT FUND / Hong Kong / ICP ASIA ALLIANCE / ICP.HUBS / INTERNET COMPUTER PROTOCOL / News / WEB3 ADOPTION

Hong Kong Security Chief Vows to Hunt Down JPEX Crypto Scam Ringleaders

by Blockchain NewsSeptember 28, 2023

Key Takeaways

* Hong Kong Security Chief Chris Tang Ping-keung vows to hunt down ringleaders of JPEX, a crypto platform involved in the city’s largest alleged financial fraud.

* Police have arrested 15 individuals and seized assets worth HK$85 million ($10.8 million), including HK$8 million in cash.

* Financial Secretary Paul Chan Mo-po emphasizes the need for a proper regulatory framework for Web3-related business ventures.

The Ongoing Investigation

Hong Kong’s Secretary for Security, Chris Tang Ping-keung, has pledged to apprehend the key operators behind JPEX, a cryptocurrency platform at the center of the city’s largest alleged financial fraud, according to SCMP. As of September 27, 2023, the police have arrested 15 individuals and seized more than HK$8 million ($1 million) in cash, along with other assets valued at HK$77 million ($9.8 million). These assets include real estate and digital currencies. The case involves suspected losses of HK$1.5 billion ($191.9 million) and has impacted more than 2,400 victims.

Regulatory Concerns

Financial Secretary Paul Chan Mo-po stated that Hong Kong must regulate business ventures related to the next generation of the internet, known as Web3. “We must incorporate business operations related to Web3 into a proper regulatory framework and crack down on any illegal activities,” Chan said. Authorities aim to impose “balanced regulations” to protect investors and prevent money laundering risks.

The Arrests

Among the 15 arrested, one was Chung Wai-hin, a 23-year-old director of over-the-counter (OTC) cryptocurrency exchange store Money Lupin. Another was influencer Sheena Leung, who runs the YouTube channel “sheung-8888,” and a staff member of OTC cryptocurrency store Unicoin. On Monday, another director of Money Lupin, Wong Sheung-yin, was arrested.

Regulatory Oversight

The Securities and Futures Commission had earlier named JPEX as an unlicensed cryptocurrency exchange with “suspicious features.” Only two platforms, HashKey and OSL, have secured a license for retail cryptocurrency trading services in Hong Kong. Four other companies are pending approval.

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Tagged : CHRIS TANG PING-KEUNG / FINANCIAL FRAUD / Hong Kong / JPEX / MONEY LUPIN / News / PAUL CHAN MO-PO / REGULATORY FRAMEWORK / Securities And Futures Commission / Web3

HK SFC Details JPEX Probe; CEO Affirms Hong Kong’s Web3 Commitment

by Blockchain NewsSeptember 25, 2023

Key Takeaways

Hong Kong’s Securities and Futures Commission (SFC) has provided details on its investigation into the unlicensed virtual asset trading platform JPEX.

Over 2,000 people have reported being defrauded by JPEX, involving more than HKD 1.4 billion.

SFC CEO Leung Fung-yee emphasizes that the incident will not change Hong Kong’s direction in developing a Web3 ecosystem.

Background and Investigation Timeline

The Hong Kong Securities and Futures Commission (SFC) has shed light on its investigation into JPEX, an unlicensed virtual asset trading platform accused of fraud. The platform has received complaints from over 2,000 individuals, involving assets exceeding HKD 1.4 billion. The SFC began monitoring JPEX in early 2022, suspecting false claims on its website and advertisements. By July 2022, the platform was put on a watchlist due to its evasive responses. Formal investigations were initiated in June 2023, leading to an official warning issued on September 13, 2023.

Regulatory Stance

SFC CEO Leung Fung-yee stated that the incident underscores the importance of regulation. She emphasized that Hong Kong’s commitment to developing a Web3 ecosystem remains unchanged. “If there is no regulatory system, investors cannot identify which platforms are relatively safe and reliable,” Leung added.

Ongoing Police Investigation

When asked about the possibility of halting or collaborating with overseas financial regulators to block JPEX’s asset transfers, Christopher Wilson, Executive Director of the Regulatory Enforcement Department, said that the police are currently leading the related investigation and declined to disclose further details.

Transition Period Concerns

Regarding the 12-month transition period for virtual asset platforms to comply with new regulations, Huang Lexin, head of the SFC’s fintech group, said that the arrangement is to give platforms operating in Hong Kong reasonable time to apply for licenses and meet regulatory requirements.

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Tagged : Fraud / Hong Kong / JPEX / News / Regulation / Sfc / VIRTUAL ASSET TRADING / WEB3 ECOSYSTEM

Hong Kong and Israel Central Banks Collaborate on Retail CBDC Prototype

by Blockchain NewsSeptember 12, 2023

The Hong Kong Monetary Authority (HKMA) has joined forces with the Bank of Israel (BOI) and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre to release a joint report on “Project Sela – An accessible and secure retail CBDC ecosystem”. The report was unveiled at a conference in Tel Aviv on 12 September.

Project Sela marks the inaugural collaboration between the two central banks in the fintech domain. The initiative underscores the technical viability of a retail central bank digital currency (CBDC) framework that can foster competition and innovation in digital payments. This is achieved by permitting non-bank payment intermediaries to link directly to the CBDC ledger maintained by the central bank. The prototype, built on distributed ledger technology (DLT), serves as a testament to how the technical execution of the proposed structure can meet stringent cybersecurity, legal, and policy mandates.

Howard Lee, Deputy Chief Executive of the HKMA, commented on the project’s significance, stating, “Project Sela has offered invaluable hands-on insights into the cybersecurity, technical, and policy dimensions of retail CBDC deployment.” He further added that while the HKMA hasn’t finalized its stance on launching an e-HKD in Hong Kong, the findings from Project Sela will guide their continued research.

Andrew Abir, Deputy Governor of the BOI, emphasized the project’s role in fostering competition and innovation. He noted, “If central bank funds are to transition to a digital format, cybersecurity remains paramount. Project Sela has facilitated a comprehensive discussion on the cybersecurity facets of CBDC with our collaborators.”

Bénédicte Nolens, Head of the BIS Innovation Hub Hong Kong Centre, shed light on the project’s exploration into a CBDC system where the central bank manages the retail ledger. She highlighted the introduction of an “Access Enabler” intermediary, which broadens CBDC access, thereby stimulating competition and innovation, without compromising on cybersecurity or user privacy.

The Hong Kong Monetary Authority (HKMA) has been exploring Central Bank Digital Currency (CBDC) since 2017, leveraging Distributed Ledger Technologies (DLT). In 2017, the HKMA initiated Project LionRock, focusing on large-value payments.

By 2019, in collaboration with the Bank of Thailand, they launched Project Inthanon-LionRock, which evolved into the Multiple CBDC Bridge (mBridge) by 2021, emphasizing real-time cross-border transactions.

In Q3 2022, mBridge underwent a pilot phase, settling over HK$171 million in transactions. On the retail front, the HKMA is considering an e-HKD, with a technical whitepaper released in 2021 and a position paper in 2022 outlining its three-rail approach to implementation.

The Rail 2 – e-HKD pilot programme was launched in November 2022, inviting stakeholders to explore e-HKD applications.

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Tagged : CBDC / CENTRAL BANKS / Hong Kong / Israel / News

SEBA Hong Kong Gains Preliminary Approval for Crypto-Related Services

by Blockchain NewsAugust 30, 2023

SEBA Hong Kong, a subsidiary of Swiss-based SEBA Bank AG, has been granted an “Approval-in-Principle” (AIP) by Hong Kong’s Securities and Futures Commission (SFC). This preliminary approval positions SEBA Hong Kong to become one of the first licensed corporations in the city to offer crypto-related investment services.

Regulatory Green Light for Crypto Services

The AIP allows SEBA Hong Kong to proceed with its license application for conducting regulated activities in the city. The scope of the license includes dealing in securities and virtual assets-related products such as OTC derivatives and structured products. Additionally, the firm is authorized to advise on securities and virtual assets and manage discretionary accounts in both traditional and digital assets.

“The AIP marks a significant leap forward in SEBA group’s mission to secure the future of the global crypto economy and, in turn, validates SEBA Hong Kong’s position in the market as a trusted and regulated partner,” said Franz Bergmueller, Group CEO of SEBA Bank.

A Strategic Move in Asia Pacific

The AIP is a crucial step in SEBA Hong Kong’s broader Asia Pacific strategy. The firm aims to offer wealth management, investment, and advisory services with the security and customer experience that accompanies a regulated institution. “This AIP signifies that all our efforts are heading in the right direction,” commented Amy Yu, CEO APAC of SEBA Hong Kong.

Aligning with Global Regulatory Standards

SEBA Bank already holds licenses from Swiss regulatory body FINMA and Abu Dhabi’s Financial Services Regulatory Authority (FSRA). The Hong Kong AIP “significantly extends our global regulatory footprint,” Bergmueller noted.

Market Implications

The move is indicative of Hong Kong’s growing role in the global crypto economy and sets a precedent for regulatory standards in the digital asset space. “We see enormous potential in Hong Kong’s journey to becoming a global crypto market leader,” said Yu.

SFC’s Comprehensive Virtual Asset Framework

The SFC has been a pioneer among major jurisdictions in establishing a comprehensive regulatory framework for virtual assets, commonly referred to as cryptocurrencies. Under the guiding principle of “same business, same risks, same rules,” the SFC aims to regulate various virtual asset-related activities. These include the operation of virtual asset trading platforms, fund management, and advising or dealing in virtual assets. The regulatory body’s approach aims to balance investor protection, market integrity, and risk management for financial institutions.

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Tagged : Crypto / Hong Kong / News / Otc / Seba / Sfc

HK’s Official Blockchain Platform eTradeConnect to Terminate Operations

by Blockchain NewsAugust 28, 2023

The Hong Kong Monetary Authority (HKMA)-backed eTradeConnect, a trade finance platform built on blockchain technology and supported by a group of twelve prominent banks, is set to cease operations by month’s end. Launched officially on October 31, the platform’s primary functions were to digitalize trade documents, streamline trade finance operations, and utilize blockchain capabilities to bolster efficiency and foster trust within the trade community.

Its origins date back to October 2017, when the HKMA unveiled plans for this trade finance venture, buoyed by the positive outcomes of a preliminary proof-of-concept test. Initially dubbed the Hong Kong Trade Finance Platform, eTradeConnect marked a significant stride for the city, being its inaugural multi-bank blockchain project.

The collaborative effort began with seven leading banks, such as Bank of China (Hong Kong) Limited and Hang Seng Bank Limited. This group later grew with the inclusion of five more banks, culminating in a consortium of twelve.

In a bid to facilitate cross-border trades, the HKMA had previously sought opportunities to connect eTradeConnect with trade platforms in other regions. A notable development was the signing of a Memorandum of Understanding between eTradeConnect and Europe’s we.trade platform to conduct a trial on connecting the two platforms. This collaboration aimed to pave the way for the digitalization of cross-border trades in the Asia and Europe trade corridor.

Deputy Chief Executive of the HKMA, Mr. Howard Lee, had remarked on the significance of the platform, emphasizing its role in the new era of smart banking and the potential for connecting with other global trade finance platforms.

However, despite its promising start and the potential for bridging trade finance barriers between Europe and Asia, eTradeConnect has seen a decline in usage, leading to its impending closure. The platform’s official website has confirmed the termination of its services, with further plans to terminate the platform trademarks and the website domain after Q3 2024.

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Tagged : Blockchain / ETRADECONNECT / Hkma / Hong Kong / News

Hong Kong’s Financial Secretary Propels Web3 Expansion

by Blockchain NewsAugust 27, 2023

The fusion of reality and virtual experiences is not only adding a new dimension to our leisure activities but is also unlocking significant economic value. This evolution is primarily driven by innovative technologies, with digital entertainment emerging as a potent economic sector, shared by Hong Kong’s Financial Secretary CHAN Mo-po, Paul.

According to research, the global online entertainment market revenue is projected to soar from USD 184.2 billion in 2021 to an impressive USD 653.4 billion by 2027. This represents a compound annual growth rate of 21%, highlighting the vast potential and expansive growth space in the industry.

Last Friday, the “Digital Entertainment Leadership Forum” was inaugurated, emphasizing the theme “Entertainment Power UP! Web3 New Vision.” The event witnessed participation from over 90 speakers from more than 30 countries and regions. They delved into how digital entertainment technologies in the Web3 era are revolutionizing various sectors, including art, education, sports, and daily life.

Over the last ten years, streaming music, movies, social platforms, and mobile games have grown at an incredible rate because to the quick spread of mobile internet and smartphone technology. The third-generation internet (Web3) and blockchain technology are projected to be the two main drivers of the next wave of breakthrough development. NFTs, GameFi, Play to Earn, and “immersive entertainment” are areas where global entertainment giants are heavily investing resources.

Cyberport, a digital community in Hong Kong, recently hosted a three-day annual event, emphasizing the power of Web3 in the entertainment sector. The event showcased how local enterprises are leveraging Web3 technology in various life and business segments, enhancing efficiency and creating new economic value. For instance, a local startup collaborated with Marvel Entertainment to launch the world’s first immersive interaction fitness adventure application, allowing users to exercise alongside comic characters.

The rapid development of Web3 is not confined to digital entertainment or virtual assets. The core blockchain technology of Web3, characterized by its decentralization, security, transparency, immutability, and cost-effectiveness, finds applications in finance, business, trade, supply chain management, and daily life.

The Hong Kong Special Administrative Region government is also actively adopting Web3 technologies.

To accelerate Web3 development, a budget of HKD 50 million was allocated to Cyberport this year to foster a thriving Web3 ecosystem. This includes attracting businesses and talent and organizing related educational and promotional events. Currently, Cyberport has amassed over 180 Web3-related technology companies, including unicorns and licensed virtual asset trading platforms, with over 20% of these enterprises originating from mainland China and overseas.

Financial Secretary Paul Chan recently emphasized the city’s dual focus on green finance and Web3.0. Last year, Hong Kong’s green finance initiatives reached a staggering USD 80 billion, accounting for one-third of Asia’s total bond issuance. In a groundbreaking move, the city began tokenizing green bonds, underscoring its commitment to financial innovation. Furthermore, licenses for virtual assets were issued starting June 1st, with the Hong Kong Securities and Futures Commission overseeing regulation and sustainable growth in this sector.

Chief Executive Li Ka-chung also highlighted Hong Kong’s potential in Web3.0 during the “Convergence of Finance, Innovating the Future” seminar. The city’s commitment to Web3.0 was further solidified with the launch of the “Task Force on Promoting Web3 Development” on June 30th, 2023. Led by Paul Chan, the task force aims to promote the sustainable and responsible development of Web3 in Hong Kong. This initiative, combined with the establishment of the Hong Kong Web 3.0 Association and the release of a report on Web 3.0 technologies, showcases Hong Kong’s proactive approach to embracing the Web3 era.

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Tagged : CHAN MO-PO / FINANCIAL SECRETARY / Green Finance / Hong Kong / News / PAUL / Web3

Huawei Cloud Introduces Advanced Web 3.0 Services to Enhance Hong Kong’s Digital Landscape

by Blockchain NewsAugust 16, 2023

Huawei Cloud has announced the launch of several innovative Web 3.0 services and technologies during the TechWave Web 3.0 Special Day. The event, co-organized by Cyberport Hong Kong, Institute of Web 3.0 Hong Kong, and Techub News, took place at Cyberport Hong Kong and witnessed the unveiling of blockchain services such as the Web 3.0 Node Engine Service (NES) and QingTian Enclave Confidential Computing.

A significant highlight of the event was the inauguration of the Web 3.0 Zone in Huawei Cloud KooGallery, which now hosts the first ten partner applications. The event attracted industry stalwarts including Peter Yan, CEO of Cyberport Hong Kong, Yang Wang, Vice President of Hong Kong University of Science and Technology (HKUST), and Gao Jianghai, President of Huawei Public Cloud Business Department. The gathering facilitated discussions on the growth, infrastructure, and application compliance of the Web 3.0 industry, as well as the merging of digital and physical realms.

Cyberport CEO, Mr. Yan, emphasized the organization’s role as a central hub for Web 3.0 in Hong Kong. He mentioned, “As the largest Web 3.0 community in Hong Kong, we aim to utilize our comprehensive innovation and technology (I&T) ecosystem to bridge sectors like smart living, FinTech, and digital entertainment, promoting collaboration and innovation within Web 3.0 projects.”

HKUST’s Vice President, Mr. Wang, highlighted Huawei Cloud’s pivotal role in propelling Web 3.0 in Hong Kong. He stated, “Huawei’s global vision and strategy will significantly elevate Hong Kong’s position in the global Web 3.0 arena, thereby boosting the region’s digital economy.”

Mr. Gao from Huawei Public Cloud Business Department pointed out the technical challenges the Web 3.0 industry currently faces. He said, “By leveraging Huawei’s 30 years of experience in ICT, combined with hardware and software synergy, we are confident in addressing these challenges and advancing the Web 3.0 industry.”

Huawei Cloud has introduced a hosting service tailored for Ethereum staking nodes, enhancing staking validator efficiency to over 99%. The QingTian Enclave security framework ensures end-to-end data encryption, providing a secure environment for applications and data on elastic cloud server instances. Additionally, with innovations like ZK Rollup hardware, Huawei Cloud aims to reduce average transaction confirmation times from hours to minutes.

In its endeavor to develop the regional Web 3.0 industry, Huawei Cloud has launched the Web 3.0 Zone on KooGallery. This platform collaborates with industrial parks, universities, and research institutes to foster skill development, ecosystem growth, and developer engagement.

Furthermore, Huawei Cloud’s Blockchain Service (BCS) has developed over 400 industry application scenarios across seven key sectors. The company’s vision is to establish an open blockchain platform that promotes cross-industry innovation and accelerates the integration of Web 3.0 technologies with the real economy.

Concluding the event was a roundtable discussion that delved into topics like Web 3.0 infrastructure innovation and on-chain user security. The overarching aim is to cultivate a collaborative and beneficial Web 3.0 industry ecosystem in Hong Kong.

Huawei Cloud, with its Everything-as-a-Service strategy, is committed to providing Web 3.0 customers with globally distributed computing power and establishing a secure Web 3.0 infrastructure on the cloud. The company’s mission is to foster a sustainable industrial ecosystem in Hong Kong with a global impact, propelling the growth of the region’s Web 3.0 industry.

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Tagged : CYBERPORT / Hong Kong / Huawei / HUAWEI CLOUD / News / TECHWAVE / Web 3.0