Hong Kong has indeed been very active in the Web3 field over the past two years. The recent funding round led by HSBC-backed WeLab is quite noteworthy—what does the $220 million scale indicate? Traditional financial giants are starting to take licensed and compliant Web3 businesses seriously.

The message behind this is very clear: not all blockchain projects are looked down upon by financial institutions. The key is whether they have obtained a virtual bank license or other legitimate compliance credentials. WeLab is taking this route—combining blockchain technology with traditional banking services, avoiding regulatory pitfalls while opening doors to innovation.

After securing funding, they plan to expand into Southeast Asia and pursue mergers and acquisitions. The underlying logic actually reflects a larger trend: Hong Kong is gradually becoming a connector between the mainland and the global Web3 ecosystem. From releasing the "Virtual Asset Development Policy Declaration" to official support for industry association development, Hong Kong is systematically integrating fintech DNA into the framework of an international financial center.

This is not just short-term policy benefits but the building of a sustainable industrial upgrade ecosystem. Virtual assets, blockchain applications, international capital flows—these are becoming new growth points in Hong Kong’s financial landscape. The regulatory-first approach seems to be effective.