One of China’s largest asset managers has announced an industry collaboration designed to develop and promote the use of Web 3.0 technology in Hong Kong’s asset management sector.
China AMC, which has more than US$260 billion in assets under management, has signed an MoU with digital assets firm HashKey Exchange and tokenisation specialist Hamsa.
The Hong Kong government had earmarked Web 3.0n as a priority in its 2023/24 budget, describing it as a “golden opportunity”.
In addition, the Financial Services and Treasury Bureau and the Securities and Futures Commission have both introduced initiatives and regulations around the virtual assets and Web 3.0 sectors in recent months.
“We believe that the synergy from this partnership will enable us to offer a broader and more innovative range of investment options for Hong Kong investors,” stated China AMC.
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