Cyberport, Hong Kong Treasury and Hong Kong Monetary Authority launch “Blockchain and Digital Asset Pilot Funding Scheme 2.0" and tConnect Launchpad

The Zhitong Finance App learned that Cyberport continues to promote the development of Hong Kong's digital assets and fintech ecosystem. Today, it launched the “Blockchain and Digital Asset Pilot Funding Program 2.0” commissioned by the Hong Kong Treasury and TConnect Launchpad, a collaborative platform supported by the Hong Kong Monetary Authority, to further promote industry innovation and collaboration, and facilitate more real-world asset tokenization, blockchain and digital asset implementation solutions.

The Secretary for Treasury of Hong Kong, Mr Hui Ching-yu said, “Hong Kong is the world's leading international fintech center. In the latest “Global Financial Centers Index” report, Hong Kong continues to rank first in the world in fintech. These are all the results of years of intensive work by the government and industry. Among them, promoting innovative applications and broadening implementation scenarios are key elements to push the industry forward. Seeing the industry's enthusiastic response to the first blockchain and digital asset pilot funding program, and the results of the project brought substantial benefits to the market, the government once again supported Cyberport to launch the 'Blockchain and Digital Asset Pilot Funding Program 2.0'. We will continue to optimize and establish relevant regulatory systems and continue to work with Cyberport and the industry to promote a healthy, responsible and sustainable digital asset market in Hong Kong.”

Yu Weiwen, Chief Executive of the Hong Kong Monetary Authority, said, “Financial tokenization is one of the cornerstones of the Hong Kong Monetary Authority's 'Fintech 2030' vision. The Hong Kong Monetary Authority and Cyberport are cooperating to implement the TConnect Launchpad to establish an exclusive platform to promote the testing of new tokenization use cases, connect innovative blockchain technology with actual financial applications, connect financial institutions and tokenized communities, and build a thriving ecosystem, accelerate the pace of implementation, deepen cooperation among all parties, and create new value for Hong Kong's financial industry.”

Cyberport CEO Zheng Songyan said, “The development of digital assets in Hong Kong is moving from exploration and innovation to a new stage of large-scale application. The 'Blockchain and Digital Asset Pilot Funding Program' launched last year was well received by the market. More than half of the shortlisted pilot projects have been successfully commercialized. The results are encouraging, reflecting the strong demand for innovative digital asset solutions in the market. Cyberport hopes to accelerate the implementation of innovative applications such as real-world asset tokenization, institutional-level DeFi, and on-chain finance and smart economy through the 'Blockchain and Digital Asset Pilot Funding Program 2.0' and tConnect Launchpad, and promote more collaboration and technology connections in the financial and innovation technology industry.”