Xu Zhengyu: There are currently about 1,100 Jinke companies in Hong Kong, and virtual asset OTC and custody services licensing system consultation will be launched within the year

Hong Kong's Secretary for Financial Services and the Treasury, Hui Zhengyu, attended the Vancouver Network Summit in Vancouver, Canada, and said that Hong Kong currently has about 1,100 fintech companies and start-ups, including 10 licensed virtual asset trading platforms, eight digital banks and four virtual insurance companies. Hong Kong will support the healthy, responsible and sustainable development of Hong Kong's stablecoin and digital asset ecosystem and will strive to fully implement the licensing system within this year to approve the first batch of licenses as soon as possible. In addition, Hong Kong will soon release the second policy declaration on the development of virtual assets, exploring the integration of traditional finance and virtual assets, and will consult on the licensing system for virtual assets over the counter services and custody services within the year.