While China is skeptical about crypto, Hong Kong is a bit different and more supportive of digital assets. Today, a Memorandum of Understanding (MoU) highlights this fact as Switzeralnd-based Crypto Valley Association (CVA) and Invest Hong Kong (InvestHK) have agreed to partner on Fintech ecosystems particularly blockchain and digital assets. The collaboration was revealed at the annual CVA event in Switzerland.
Director-General of Investment Promotion at InvestHK, Alpha Lau, said that Hong Kong is well positioned to foster innovation and commercialization and they want to be proactive in helping firms to scale and succeed in Hong Kong and beyond.
“This MoU not only represents a new milestone in the collaboration between the fintech ecosystems of Hong Kong and Switzerland, but it also underscores the city’s appeal as a premier destination for fintech and Web3 innovation. We look forward to facilitating the active development and integration of companies’ technologies into the city’s international financial services system.”
Nikoletta Csanyi, Executive Director of Crypto Valley Association, said they are paving the way for more interconnected Fintech ecosystems. She said the MoU is emblematic of their commitment to collaboration.
“Together, we have the opportunity to shape the future of finance and propel Hong Kong and Switzerland to the forefront of fintech excellence.”
The agreement is said to focus on providing regular updates based on the latest market information to help companies in Hong Kong and Switzerland better understand fintech trends and developments. The MoU is also said to support incoming business missions and investment promotion events that foster bilateral investment between the two economies.
