CZ: Hong Kong is a financial innovation sandbox, having invested in nearly 200 projects over the past six months

Odaily News: Changpeng Zhao (CZ), founder of cryptocurrency exchange Binance, stated that Hong Kong is advancing stablecoin licensing and exchange licensing, positioning itself as a sandbox for financial innovation and Web3 businesses. If Hong Kong wants to maintain its status as Asia's financial hub, it cannot rely solely on the Hong Kong Stock Exchange.

CZ believes Hong Kong should increase regulatory flexibility, striking a balance between regulation and innovation. Currently, some regions lack regulation while others are overly restrictive; the UAE is leading the way, the US and Japan are making significant progress, Hong Kong is moving relatively quickly, and Singapore remains comparatively conservative. RWA tokenization can overcome time zone and cross-border limitations, connecting global markets and enhancing asset liquidity in smaller markets. He considers the integration of AI and cryptocurrency to be a trend, with AI agents potentially using crypto assets like stablecoins for transactions in the future. CZ noted that he is primarily supporting early-stage projects through YZiLabs, having invested in nearly 200 projects over the past six months, with about 80% focused on Web3 and 20% on AI. (HK01)