PANews reported on October 31 that HashKey Exchange, Hong Kong's largest licensed virtual asset exchange, held a high-end institutional summit in Central, Hong Kong, in collaboration with the Greater Bay Area Financial Association. The theme was 'How Global Changes Affect Asset Allocation'. Important guests in attendance included Dr. Hong Wen, a member of the Hong Kong Legislative Council, Dr. Xiao Feng, Chairman of HashKey Group, Wang Long, President of the Greater Bay Area Financial Association, and Livio Weng, CEO of HashKey Exchange.
Weng Xiaoqi pointed out that Web3 and traditional finance are not in competition but rather complementary to each other. Web3 can reduce the transaction costs of traditional finance to some extent, helping to promote a higher level of industry integration. He also stated that the support of U.S. election candidates for Bitcoin 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. Weng Xiaoqi expressed that Hong Kong is at a critical point in the era of Web3 institutions and hopes to promote the rapid development of Hong Kong's Web3 in conjunction with traditional finance.