Hong Kong pulls ahead of Singapore in race to attract crypto-treasuries: blockchain expert

Core Insights - Hong Kong has surpassed Singapore in attracting technology-driven companies utilizing cryptocurrency for treasury management, solidifying its status as Asia's leading digital-asset hub for the time being [1][2] Group 1: Industry Trends - A significant number of professionals and companies from the Web3 ecosystem have relocated their headquarters to Hong Kong from Singapore over the past two years, particularly in the first half of this year [2] - Hong Kong has implemented bank-level regulations for stablecoins and has begun granting licenses to virtual-asset trading platforms, with plans for qualified institutions to issue stablecoins as early as next year [3] Group 2: Company Developments - CertiK, a blockchain-security company co-founded by Gu Ronghui, plans to expand its operations and workforce in Hong Kong next year, already operating from Cyberport [4] - Companies adopting hybrid treasury models, which involve managing both traditional cash-generating businesses and digital assets, are increasingly settling in Hong Kong [5] Group 3: Market Data - Corporate crypto holdings globally have exceeded US$130 billion this year, primarily consisting of bitcoin and stablecoins [8] - An example of this trend is Sisram Medical, a Hong Kong-listed company that has tokenized its shares to facilitate global trading, valued at approximately US$328 million [6]