PANews October 31 news, Hong Kong's largest licensed virtual asset exchange HashKey Exchange and the Greater Bay Area Financial Professionals Association held a high-end institutional summit in Central Hong Kong, themed (How Global Changes Affect Major Asset Allocation). Important guests including Hong Kong Legislative Council member Dr. Hong Wen, HashKey Group Chairman Dr. Xiao Feng, Greater Bay Area Financial Professionals Association President Wang Long, and HashKey Exchange CEO Livio Weng attended and delivered speeches.
Livio Weng pointed out that Web3 and traditional finance are not in competition but rather are complementary to each other. Web3 can reduce transaction costs in traditional finance to a certain extent, which helps promote a higher level of industry integration. He also stated that the support for Bitcoin from candidates in the U.S. election is expected to accelerate the mainstream adoption of Web3. With changes in the macro environment, HashKey Exchange's total trading volume in Hong Kong has exceeded HKD 540 billion, and its asset management scale has reached HKD 5.5 billion. Livio Weng mentioned that Hong Kong is at a critical point in the institutional era of Web3 and hopes to jointly promote the rapid development of Web3 in Hong Kong with traditional finance.