Investors promote crypto adoption in Hong Kong
A group of investors created a $100 million fund to attract crypto companies to settle in Hong Kong
The moderate relaxation of cryptocurrency regulations in Hong Kong prompted a group of investors to create a $100 million fund to attract companies in the sector.
The new investment fund, known as the ProDigital Fund, is the first step for companies that trade in cryptocurrencies to settle in Hong Kong.
At the moment, this financial instrument has $30 million, and they expect to complete the goal with the remaining 70 million by the end of this year.
According to information to the media, “the fund will support companies in the Web3 space that operate in the local market”, with the sponsorship of renowned companies in the Asian region, “particularly highlighting Ben Ng and Curt Shi, investors from the technological sector; as well as Sunwah Kingsway Capital Holdings and Golin International Group, more traditional capital companies.
The creation of the ProDigital Fund has aroused curiosity among other investors from Singapore, China and Australia. At the moment, it is known that about 30 crypto companies, basically from the United States and Europe, are willing to move to Hong Kong.
M.Pino
Source: diariobitcoin
(Reference image source: Unsplash, in collaboration with Getty Images)
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