The development of Web3 in Hong Kong is rapid, but there are still challenges in opening bank accounts.

The Hong Kong Special Administrative Region government released a virtual asset policy statement a year ago. In the past year, it has approved the license applications of two virtual asset exchanges and has attracted numerous Web3.0 companies to establish operations in Hong Kong. A partner in the venture capital department of an investment group stated in an interview that the government has actively promoted industry development in the past year, showing a very open attitude and providing significant support in policy formulation and actual implementation. He believes that the recent incident involving a certain trading platform is just an isolated case, and Hong Kong still has immense development potential for foreign Web3 companies.

However, the Web3 industry has not had a smooth landing in Hong Kong, and one of the main challenges is opening bank accounts. Traditional banks generally adopt a cautious attitude towards this emerging industry, making it difficult for Web3 companies to open accounts. The partner pointed out that getting traditional banks to accept this industry requires a gradual approach, but he believes that "the opportunities outweigh the risks." He expects that in the next two to three years, Hong Kong's support system for Web3 companies will become more完善, providing a better environment for these companies to develop their business in Hong Kong.