People cross an intersection in the Central business district in Hong Kong. AFP file photo.
Hong Kong: Hong Kong will remain a stable, open and vibrant market for digital assets as the Web3 ecosystem continues to evolve, Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, said on Wednesday.
Speaking at Consensus Hong Kong 2025, a forum on blockchain, digital assets and Web3, Chan noted that having Hong Kong as the first Asian city to host the forum underscores Hong Kong's growing prominence as a global hub for Web3 and cryptocurrency innovation.
AI is constantly evolving and increasingly applied to finance. Its convergence with blockchain will create more use cases, with both new opportunities to be captured, and challenges to be addressed, Chan said.
Hong Kong has set out a clear policy stance on the use of AI in financial services. Chan said that the HKSAR government and financial regulators are working closely with the industry to monitor technology and market development and to establish a transparent supervisory framework.
The city is investing heavily in the related infrastructure and talent development, according to Chan.
"Cyberport and Science Park have become vibrant hubs for Web3 innovation and fintech, while our universities and partnerships with the industry are nurturing generations of blockchain experts," he said.
