A start-up accelerator co-founded by Legislative Council of Hong Kong member Johnny Ng Kit-chong is looking to help 1,000 web3 startups set up shop in the city within the next three years.
G-Rocket’s new initiative, “Hong Kong Web3.0 Hub,” coincides with the special administrative region’s concerted push to put itself among the leaders in the virtual asset industry.
150 start-ups — primarily founded by Chinese entrepreneurs based elsewhere — have signed up for the accelerator’s new program, G-Rocket’s co-founder and CEO, Casper Wong, told the South China Morning Post earlier this week.
“We hope to help bring good companies and talent back to Hong Kong in the post-pandemic era,” Wong said.
G-Rocket’s program helps web3 startups obtain office space, banking — through virtual bank ZA Bank — and government resources.
G-Rocket is a subsidiary of Ng’s venture capital firm, Goldford Group.
Hong Kong pushing into crypto
Crypto-related news out of Hong Kong has been frequent in recent weeks.
CSOP Asset Management, a China Southern Asset Management subsidiary, listed the first bitcoin and ether exchange-traded funds on the Hong Kong Stock Exchange a week ago.
Earlier this month, Hong Kong passed a law introducing a licensing regime for virtual asset service providers. The Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 applied traditional customer due diligence and record-keeping requirements to VASPs when conducting certain transactions.
Additionally, Switzerland-headquartered Seba Bank expanded into Hong Kong with a new office late last month.
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Source: https://www.theblock.co/post/197641/hong-kong-accelerator-looking-to-help-1000-web3-startups-in-next-3-years?utm_source=rss&utm_medium=rss