Hong Kong is making a strategic move to strengthen its position as a global fintech leader by focusing on decentralized finance (DeFi) and the metaverse. The Hong Kong Institute for Monetary and Financial Research (HKIMR) released two reports in June 2023 highlighting the potential of these emerging technologies. The report on DeFi emphasizes its remarkable growth and its potential to introduce new financial services, reduce transaction speeds, and enhance innovation, automation, and financial inclusion.
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