{"id":38934,"date":"2023-02-23T01:21:28","date_gmt":"2023-02-23T01:21:28","guid":{"rendered":"https:\/\/lydian.io\/?p=38934"},"modified":"2023-02-23T01:21:30","modified_gmt":"2023-02-23T01:21:30","slug":"gate-io-enters-hong-kong-after-city-allocates-6-4-million-budget-to-web3","status":"publish","type":"post","link":"https:\/\/lydian.io\/gate-io-enters-hong-kong-after-city-allocates-6-4-million-budget-to-web3\/","title":{"rendered":"Gate.io enters Hong Kong after city allocates $6.4 million budget to Web3","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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Cryptocurrency change Gate.io is making ready to open a Hong Kong presence after the native authorities earmarked a proposed $6.4 million (HK$50 million) money injection into Web3, per the 2023-24 metropolis price range has.<\/p>\n
gate group called<\/a> on Feb. 22 that it'll apply for a crypto license in Hong Kong that may permit it to launch Gate HK. The Firm's native entity, Hippo Monetary Companies, was licensed to offer custodial companies for digital property in August 2022.<\/p>\n It comes as Hong Kong Finance Secretary Paul Chan introduced Web3-related funding and the creation of a crypto activity drive in a Feb. 22 price range speech<\/a>.<\/p>\n He added that Web3 has \"large potential\" and that the SAR of China must sustain with its \"steady growth.\"<\/p>\n \"We should transfer with the instances and seize this distinctive alternative to guide the event of innovation.\"<\/p>\n Chan outlined that the funds could be used to speed up the \"growth of the Web3 ecosystem\" by organizing worldwide seminars, selling enterprise cooperation and organizing \"workshops for younger individuals.\"<\/p>\n He famous {that a} \"giant quantity\" of corporations are contemplating opening a retailer within the metropolis because of the authorities's cryptocurrency legal guidelines. Gate Group founder Dr. Han Lin, referred to as Hong Kong \"a world strategic market\" and a \"hub\" resulting from its \"industry-leading regulatory regime.\"<\/p>\n Very excited for Hong Kong. Having obtained the TCSP license in Hong Kong, Gate Group can be making ready for a crypto license and fine-tuning of Gate HK, a brand new entity tailor-made to serve Hong Kong's rising crypto market. Keep tuned.<\/p>\n