Hong Kong is considered one of the best fintech hubs in the world, consistently ranked globallyFinTech Reportof the top ten. Hong Kong is home to at least eight start-ups valued at over US$1 billion, including Airwallex, TNG, WeLab, Lalamove, GoGoVan, Klook and SenseTime Group. Hong Kong's strategic location, coupled with supportive regulations and being a key global economic player, has boosted Hong Kong's status as a fintech hub, attracting global investment, with total investments increasing from US$188 million in 2018 to US$3.74 in 2019 One hundred million U.S. dollars.

Hong Kong's financial technology environment includes various ecosystems around the world. From B2B to B2C, there are numerous fintech companies providing services in payments, remittances, big data, AI, insurtech, compliance, regtech, blockchain and digital assets. There are many more players in the ecosystem who play supporting roles – critical for any fintech hub to thrive, including associations, accelerators, innovation labs, VCs, facilitators and event organisations. By.

The government's proactive approach to support has played a huge role in making this happen. As a global financial center, the focus on financial technology is nothing more than a logical evolution of urban development towards the future as financial technology matures. In the 2018/19 Budget, the Hong Kong government earmarked for fintech over the next five yearsHK$500 million. Today, the government has introduced many initiatives, policies and funding schemes. All to promote the healthy development of the fintech industry.

Large-scale application of financial technology

But the ecosystem is incomplete without users. In this regard, Hong Kong also has good data performance, with a higher-than-average consumer fintech adoption rate of 67%. Before the advent of fintech, Hong Kong residents were already paying attention to the global stock and foreign exchange markets, trading them in their spare time. The new wave of fintech services is only widening this pool, making it easier for more people to connect to financial services in a way that makes sense to them.

ReportReportsaid more than 10,000 new accounts were opened within days of launching the service.

Cryptocurrency Center

In addition to banking, there are a large number of consumer applications fortrading stockscrypto exchangecrypto exchangeimage descriptionBTCandETH ATM。

https://blockchain.news/analysis/hong-kong-blockchain-ecosystem

In addition to the consumer groups who are already familiar with investment and will allow capital to flow to make money from money, the government's open stance on encryption technology is also conducive to the vigorous development of the encryption scene. It is fairly easy to buy cryptocurrencies from any of the regulated exchanges based in Hong Kong.

DeFi fieldDeFi fieldstable currencystable currency, taking finance to a new level.

AAX is a digital asset exchange powered by LSEG Technology. AAX Academy is a user education channel created by AAX, which aims to help more users learn novice tutorials and understand the basics of blockchain.

About AAX Academy

AAX is a digital asset exchange powered by LSEG Technology. AAX Academy is a user education channel created by AAX, which aims to help more users learn novice tutorials and understand the basics of blockchain.