2026-01-17 05:34:09

An interesting funding news is going viral—Hong Kong fintech group WeLab just announced the completion of a $220 million Series D funding round (equivalent to over HKD 1.7 billion). Where did this money come from? More than half of it is from banks. Participating investors include Prudential Hong Kong, Fubon Bank (Hong Kong), Hong Kong Investment Management Company, TOM Group, and Allianz Group, among others.

It’s worth noting that WeLab itself is one of Hong Kong’s eight virtual banks and is also a founding member of the Hong Kong Web3 Association. Last year, it also received $260 million in credit support from Citibank. What does this new round of funding reflect? The attitude of traditional banking institutions toward the Web3 fintech sector is quietly shifting—they are no longer on the sidelines but are starting to invest real money. What does this mean for the entire Hong Kong Web3 ecosystem? What are your thoughts?

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GetRichLeek

· 10h ago

Wow, the banks are really starting to step in? Isn't this a signal? Why am I still bottom-fishing in the air...

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NFTDreamer

· 10h ago

Ha, traditional banks are really pouring real money into Web3 now. This shift is indeed quite rapid. Banks aren't fools. They see opportunities and place their bets. Hong Kong's recent moves are quite interesting. WeLab's fundraising pace is extremely steady. Having both a virtual bank and Web3 dual identities is a strong move. Wait, does this mean regulatory attitudes are also softening? Otherwise, banks wouldn't dare to push back so aggressively. Wow, 1.7 billion HKD. That's a big deal. No wonder it's making headlines. The signal of banks entering the market is more valuable than anything else. An ecosystem is just around the corner. The combination of Citibank and Prudential feels like Hong Kong Web3 is about to take off.

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FastLeaver

· 10h ago

Banks are finally unable to sit still and are really starting to bet on Web3 --- Wait, did banks take more than half of this funding round? Traditional finance is really waking up --- Citibank invested 260 million last year, and now with this lineup... it really feels like the attitude here in Hong Kong is changing --- Virtual bank + Web3 Association member, this combination of identities is quite unique --- The key is that major banks like Prudential and Fubon are involved, this is not small-scale play --- Is Hong Kong’s Web3 ecosystem about to rise? Or do the banks just want a share of the pie --- From watching from the sidelines to directly betting, this shift is indeed quite fast, there must be a reason behind it

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FlippedSignal

· 10h ago

Traditional finance is really starting to pour money in, and the actions here in Hong Kong are getting faster and faster. --- Honestly, banks banding together to invest in virtual banks is a bit extreme. --- With this round of financing for WeLab, it feels like Hong Kong is really about to rise. --- Wait, they are already virtual banks themselves and still seeking bank investments? That logic is quite interesting. --- But to be fair, if traditional banks are willing to invest, it proves the market is indeed shifting. --- Is the spring of Hong Kong Web3 here? Or is it just another bubble? --- Looking at this list of investors, all the major banks are here. Didn't expect that. --- Citibank is giving 260 million, and now another 220 million. This pace is a bit crazy. --- I'm a bit curious about where they will really spend this money. --- Traditional finance entering the scene = regulatory friendliness? Or just wanting a share of the pie.

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WagmiAnon

· 10h ago

Traditional financial giants are finally dropping the act and going all in on Web3? Hong Kong's move is pretty bold. But honestly, do banks really understand Web3 or are they just trying to make a quick buck... A staggering HKD 17 billion poured in—are they genuinely optimistic or are they being forced to enter? WeLab's timing for this funding round is impeccable, with its virtual bank identity and Web3 theme, naturally positioning it as a beneficiary of Hong Kong's policy incentives. Wait, half of the funding comes from banks... does this mean they have no other options left? If you want to eat this Web3 piece of the pie, you have to do it now. The signals that traditional finance is embracing crypto are becoming increasingly clear, but we're worried that upcoming regulatory changes might trap them.

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DeFiCaffeinator

· 11h ago

Wow, traditional finance is really starting to get involved. This signal is quite strong. --- Banks betting on Web3 themselves? This shows that the big players have long seen through it. They were just pretending not to see before. --- $220 million, half of which comes from banks... Hong Kong's move is still quite steady. --- Don't just look at the funding numbers; the key is the attitude shift of major players like Citibank and Prudential. That's the real inflection point. --- Virtual banks + Web3 Association, WeLab's identity is indeed a bit special, as it has already stepped into two worlds. --- For those still asking whether Web3 has a future, just look at this funding list. The answer is right there. --- The Hong Kong team responded quite quickly this time, even more promptly than Singapore. There's something there. --- The entry of traditional finance is already happening. As for how it will develop further, it depends on whether regulators give the green light.

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