The global shift toward decentralized finance (DeFi) and blockchain-based ecosystems has placed Hong Kong at the forefront of Web3.0 innovation. With strong government backing, evolving regulatory clarity, and growing institutional interest, Hong Kong is rapidly transforming into a global virtual asset hub. At the heart of this transformation lies the explosive growth of decentralized exchanges (DEXs), attracting both retail participation and strategic investments from listed companies eager to capture early-mover advantages in the next-generation internet economy.
Policy Support: Building a Global Virtual Asset Hub
Hong Kong’s strategic push into Web3.0 began with the release of its Virtual Asset Policy Declaration in 2023, which laid the foundation for a pro-innovation regulatory environment. Since then, the government has taken concrete steps to foster ecosystem development — establishing the cross-industry Hong Kong Web3.0 Association and launching the Web3 Hub Fund, led by Financial Secretary Paul Chan, to attract global blockchain enterprises.
In 2024, the Securities and Futures Commission (SFC) strengthened oversight by implementing a dual licensing regime for virtual asset trading platforms. This framework requires all operators to meet strict compliance standards during a transition period. To date, seven firms have obtained full licenses, with 18 more in the application pipeline — signaling growing confidence in Hong Kong’s regulated crypto landscape.
👉 Discover how leading platforms are navigating compliance while scaling DeFi innovation.
One of the most anticipated developments is the potential launch of a digital Hong Kong dollar (e-HKD). Designed as a central bank digital currency (CBDC), it aims to serve as a stable anchor for virtual economies and enhance cross-border payment efficiency. Financial Secretary Paul Chan emphasized that the e-HKD could provide China with an alternative financial interface beyond SWIFT, reinforcing national financial resilience.
Moreover, Hong Kong is actively collaborating with mainland authorities on pilot programs for cross-border digital yuan transactions and exploring interoperability between CBDCs. These initiatives are bridging traditional finance and decentralized systems, creating fertile ground for asset tokenization and institutional-grade DeFi applications.
Listed Companies Enter the Web3.0 Race
Fuelled by policy tailwinds and technological advancements, several Hong Kong-listed companies are making bold moves into Web3.0 infrastructure and services — from DEX development to on-chain analytics and real-world asset (RWA) tokenization.
OSL Group (00863.HK): A Regulated Gateway to Digital Assets
As Hong Kong’s first licensed virtual asset exchange, OSL Group has emerged as a market leader. In 2024, the company reported a 79% year-on-year revenue increase to HK$375 million, with digital asset trading volume surpassing HK$100 billion. Its technology infrastructure segment saw an extraordinary 415% growth, driven by demand for SaaS solutions and institutional custody services.
Market sentiment reflects this momentum — OSL’s stock surged over 10% in a single day in October 2024, as investors recognized its pivotal role in compliant crypto trading and ETF custodianship.
GAMI Technology (08198.HK): Powering the Next-Gen DEX Infrastructure
Another standout player is GAMI Technology, which announced a strategic pivot toward Web3.0 in March 2025. The company raised HK$33.23 million through a share placement, allocating 35% of proceeds to Web3.0 R&D — including the development of a DEX aggregator and an advanced on-chain data analytics platform.
GAMI’s strategy hinges on leveraging its expertise in data center operations and high-performance computing. By integrating FPGA-accelerated hardware modules and supporting full instruction set parsing for Move VM 2.0 and FuelVM, the company is building a robust data infrastructure capable of processing complex blockchain transactions at scale.
This forward-looking approach has paid off: GAMI’s share price skyrocketed over 600% from January 2025 levels, rising from HK$0.25 to multi-year highs.
Other notable entrants include Boya Interactive (00434.HK), Victory Securities (08540.HK), and Lancang Interactive (08267.HK) — all of which have made strategic investments in crypto-related ventures and experienced significant equity revaluation as market sentiment shifts toward blockchain adoption.
👉 See how cutting-edge infrastructure is enabling smarter, faster DEX platforms today.
The Rise of Decentralized Exchanges: Liquidity Meets Innovation
Decentralized exchanges (DEXs) represent one of the most dynamic sectors within Web3.0, offering trustless, non-custodial trading environments that empower users worldwide.
On BNB Chain (BSC) alone, DEXs recorded a 24-hour trading volume of $2.61 billion, with leveraged contract trading exceeding $93.47 million. Daily net capital inflows reached $28.1 million, while active addresses surpassed 1.21 million — clear indicators of sustained user engagement and deepening liquidity.
Top protocols like PancakeSwap generated $1.38 million in fees within 24 hours, underscoring the profitability and scalability of well-designed DeFi platforms.
Institutional Adoption Accelerates
The rise of spot Bitcoin ETFs in the U.S. and their introduction in Hong Kong — now managing over HK$2.35 billion in assets — has created a seamless bridge between traditional capital and digital assets. This institutional influx is fueling further innovation across DEX ecosystems.
GAMI Technology, for instance, has developed a proprietary RWA protocol and implemented 404-compliant token standards to map off-chain assets onto blockchain networks. This end-to-end solution enables secure issuance, upgrading, transfer, cross-chain interoperability, and trading of tokenized assets — positioning GAMI as a key enabler of hybrid financial systems.
As stated in its annual report:
"We believe growing market demand remains underserved. By advancing platform development now, we aim to become pioneers — capturing market share in mature Web3.0 regions before dominant players emerge."
Despite repeated attempts, GAMI Technology declined interview requests, citing corporate disclosure policies — a reminder of the delicate balance public companies must maintain when navigating emerging tech sectors.
Future Outlook: Compliance Meets Technological Breakthroughs
Hong Kong’s ascent as a Web3.0 powerhouse reflects a powerful synergy between regulatory foresight and private-sector innovation.
Professor Yang Wang, Vice President of the Hong Kong University of Science and Technology, predicts that real-world asset tokenization will be the fastest-growing segment in 2025. The ability to digitize real estate, bonds, commodities, and private equity on-chain offers transformative benefits — including enhanced liquidity, reduced transaction costs, and broader investor access.
Regulatory evolution continues apace. Amendments to Hong Kong’s Anti-Money Laundering Ordinance mandate the use of on-chain compliance tools — such as chain analysis and risk monitoring systems — ensuring platforms operate transparently around the clock.
At the same time, initiatives like the Web3 Hub Fund and the digital HKD project are drawing global talent and venture capital into the region. What began as an experimental sandbox is now evolving into a full-fledged global nexus for decentralized finance.
Frequently Asked Questions
Q: What is a decentralized exchange (DEX)?
A: A DEX is a blockchain-based platform that allows users to trade cryptocurrencies directly without relying on a central intermediary. Transactions occur peer-to-peer via smart contracts, enhancing transparency and user control.
Q: Why are Hong Kong listed companies investing in Web3.0?
A: With strong government support, clear regulations, and growing investor interest, Hong Kong offers a unique environment for early-stage Web3.0 ventures. Companies see long-term value in building infrastructure for DeFi, tokenization, and digital asset management.
Q: How does real-world asset (RWA) tokenization work?
A: RWA tokenization involves converting physical or traditional financial assets — like real estate or bonds — into digital tokens on a blockchain. This enables fractional ownership, faster settlement, and integration with DeFi protocols.
Q: Is Hong Kong’s digital currency the same as China’s digital yuan?
A: No. While both are CBDCs, the proposed digital Hong Kong dollar operates under Hong Kong’s monetary framework, whereas the digital yuan (e-CNY) is issued by China’s central bank and used primarily on the mainland.
Q: Can foreign investors participate in Hong Kong’s Web3.0 market?
A: Yes. Hong Kong maintains an open financial system with minimal capital controls. Foreign firms can establish operations locally and access regulated crypto services through licensed platforms.
Q: Are DEXs legal in Hong Kong?
A: While DEXs operate in a gray area globally, Hong Kong regulates centralized platforms under strict licensing rules. The SFC encourages innovation but emphasizes investor protection — pushing developers toward compliant hybrid models.
👉 Stay ahead of the curve — explore tools that power next-gen DeFi platforms and analytics engines.
As policy frameworks mature and technological capabilities expand, Hong Kong-listed firms are positioning themselves at the epicenter of a digital financial revolution. With decentralized exchanges leading the charge, the city is not just embracing Web3.0 — it's helping define its future.