📰 Hong Kong Unveils Plans for DeFi and Metaverse Leadership

Hong Kong is positioning itself as a leader in decentralized finance (DeFi) and the Metaverse. Recent government-backed studies highlight the rapid growth and potential of these technologies. DeFi's market capitalization grew from $6 billion in 2021 to over $80 billion in 2023. Despite skepticism from some financial institutions, local fintech businesses are actively pursuing Metaverse developments. Hong Kong's regulatory support, including approvals for cryptocurrency exchanges, aims to enhance its status as a global crypto hub.

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