Hong Kong has rapidly evolved into a key hub for Web3 innovation, especially following the official implementation of the Guidelines for Virtual Asset Trading Platform Operators on June 1. With the Securities and Futures Commission (SFC) welcoming licensed platforms and encouraging orderly exits for non-compliant operators, the city is cementing its position as a regulated and forward-thinking digital asset ecosystem.
This guide offers an in-depth look at the growing landscape of Web3 enterprises in Hong Kong — from virtual asset exchanges and blockchain investment firms to ETFs, NFT platforms, wallets, and media outlets — highlighting how the region is shaping the future of decentralized finance and digital ownership.
🏦 Leading Virtual Asset Trading Platforms in Hong Kong
Hong Kong's regulatory clarity has attracted major players in the crypto exchange space, many of which are either licensed or actively pursuing compliance under SFC frameworks.
OSL – Asia’s First Regulated Digital Asset Exchange
OSL is a pioneer in Asia’s regulated digital asset market, offering brokerage, custody, and exchange services to institutional and professional investors. As the first company to receive both Type 1 (dealing in securities) and Type 7 (providing automated trading services) licenses from the SFC, OSL sets a benchmark for security and compliance.
HashKey Group – End-to-End Digital Financial Services
HashKey Group operates a full-stack digital asset ecosystem across venture capital, trading, and custody. With operations in Hong Kong, Singapore, and Japan, it supports institutions, family offices, and funds through a secure, regulated environment. Its sister company, HashKey Exchange, is one of the two licensed spot trading platforms currently operating in Hong Kong.
BitMEX – Global Leader in Crypto Derivatives
Known for launching the Bitcoin perpetual contract, BitMEX remains a dominant force in derivatives trading. While historically known for high leverage (up to 100x), its focus has shifted toward compliance and institutional-grade infrastructure as it adapts to global regulations.
Amber Group – Institutional-Focused Digital Asset Platform
Amber Group serves over 1,000 institutional clients worldwide with services spanning trading, financing, and investment. The firm combines algorithmic trading expertise with deep liquidity access, positioning itself as a bridge between traditional finance and Web3.
OKX – Global Exchange with Local Compliance
👉 Discover how top-tier exchanges are adapting to Hong Kong’s new regulatory era.
OKX offers Hong Kong users access to spot trading for 16 major virtual assets under VASP guidelines. It supports local currency onboarding and complies with anti-money laundering (AML) standards, making it one of the most accessible global platforms for Hong Kong residents.
Huobi HK – Rebranded for the Hong Kong Market
Huobi Global launched Huobi HK to serve local investors with compliant spot trading and custody solutions. The platform is applying for a VATP license and working with independent auditors to ensure full regulatory alignment.
Hex Trust – Bank-Grade Digital Asset Custodian
As a licensed and insured custodian, Hex Trust provides secure storage via its proprietary Hex Safe platform. Serving banks, enterprises, and private clients, it operates across Hong Kong, Singapore, Dubai, and Vietnam.
HKD.com – Bridging Physical and Digital Trading
HKD.com stands out by combining an online exchange with a physical trading lounge in Hong Kong’s central business district. This hybrid model promotes digital asset adoption through real-world engagement.
New Flame Technology – Formerly Huobi Tech
Listed on the Hong Kong Stock Exchange (1611.HK), New Flame Technology builds compliant Web3 infrastructure. Under CEO Du Jun, it focuses on blockchain ecosystems that align with regulatory frameworks.
Antalpha – Full-Service Digital Financial Solutions
With offices in Singapore and Hong Kong, Antalpha offers asset management, lending, mining finance, and venture investments. It serves banks, corporate treasuries, and high-net-worth individuals seeking exposure to digital assets.
Other notable platforms include HKVAX, Gate.io (via Gate HK), Crypto.com, BitgetX, BitMart, and SignalPlus — a specialized options trading platform using Wall Street-grade tools to democratize derivatives access.
💼 Blockchain Investment & Venture Capital Firms
Hong Kong hosts a vibrant network of venture capital firms fueling early-stage Web3 innovation across DeFi, NFTs, gaming, and infrastructure.
HashKey Capital – Focused on Blockchain Ecosystem Growth
Investing across public chains, protocols, dApps, and crypto finance, HashKey Capital is one of Asia’s most active crypto VCs.
Draper Dragon – Bridging Silicon Valley and Asia
Backed by Tim Draper, this cross-border fund invests in disruptive tech including digital assets. With offices in Hong Kong and Shanghai, it connects startups with global capital.
Kenetic Capital – Early Backer of Major Projects
Based in Hong Kong, Kenetic Capital has invested in Polkadot, Alchemy, FTX (pre-collapse), and BlockFi. It combines proprietary trading with venture capital strategies.
DWF Labs – Web3 Investor and Market Maker
Part of one of the world’s top crypto trading firms, DWF Labs offers funding, market-making, OTC services, and token listing support. Its presence in Hong Kong strengthens regional liquidity.
Gobi Partners – Pan-Asian VC Powerhouse
Managing $1.5 billion in assets, Gobi Partners supports startups from seed to growth stages across emerging markets. It has backed Amber Group and Animoca Brands.
QBN Capital & Chiron – Local Tech-Focused Investors
Both headquartered in Hong Kong, QBN Capital focuses on fintech and deep tech startups, while Chiron runs a $50 million fund targeting DeFi and metaverse-related NFTs.
Additional key players include Alliance DAO (a Web3 accelerator), CMCC Global, Hailstone Ventures, IMO Ventures, and DAOvergence — a DAO investing in early-stage blockchain projects.
📈 Hong Kong’s Growing Crypto ETF Landscape
The launch of spot and futures-based ETFs marks a pivotal moment for institutional adoption.
CSOP Asset Management launched Asia’s first virtual asset ETFs:
- CSOP Bitcoin Futures ETF (3066.HK)
- CSOP Ethereum Futures ETF (3068.HK)
Both trade on the Hong Kong Stock Exchange and offer exposure without direct crypto ownership.
Pando Limited offers actively managed ETFs:
- Pando Blockchain Theme ETF (3112.HK)
- Pando Innovation Theme ETF (3056.HK)
- BOC International also introduced a metaverse-themed ETF (3034.HK), reflecting growing investor interest in immersive digital economies.
Several asset managers, including EBON Financial, are exploring plans to list spot Bitcoin ETFs pending SFC approval — potentially unlocking massive retail access.
🔐 Wallets & Custody Solutions
Security is paramount in Web3. Hong Kong-based projects like OneKey, ELLIPAL, and HyperPay offer hardware and software wallets with enterprise-grade protection.
- Gryfyn, a joint venture between Animoca Brands and Hex Trust, delivers user-friendly custodial wallets designed for mainstream adoption.
- DTTD is building social wallets to simplify NFT management for both beginners and experts.
- Custonomy uses MPC technology to provide secure institutional custody solutions.
👉 Learn how secure wallet technologies are transforming digital asset ownership.
🎮 Web3 Gaming & Metaverse Innovators
Hong Kong is home to leading game studios shaping the future of play-to-earn economies.
- Animoca Brands develops open metaverse experiences through subsidiaries like The Sandbox.
- MOBOX blends DeFi yield farming with NFT gaming in its "MOMOverse."
- SkyArk Studio aims to replicate Animoca’s success with new blockchain game incubations.
- Earn Alliance connects gamers and developers through curated web3 game discovery tools.
NFT gaming guilds like Sky Meta operate across Asia, lending assets to players ("scholars") in return for shared revenue — creating new income models in developing economies.
🧠 Education & Media Initiatives
To support broader adoption:
- Open Campus decentralizes education using blockchain to empower creators.
- Hooked Protocol gamifies learning within Web3 environments.
- Media platforms like Forkast, Techub.NEWS, and Meta Era deliver trusted insights on blockchain trends.
🔍 Frequently Asked Questions (FAQ)
Q: Are cryptocurrency exchanges legal in Hong Kong?
A: Yes — but only those licensed or registered under the SFC’s Virtual Asset Trading Platform (VATP) regime. As of 2025, only approved platforms may serve retail investors.
Q: Can I invest in crypto ETFs in Hong Kong?
A: Yes. Several ETFs tracking Bitcoin and Ethereum futures are already listed on the HKEX. Spot-based ETFs are expected soon pending regulatory greenlights.
Q: What is a VASP license?
A: VASP stands for Virtual Asset Service Provider. In Hong Kong, it refers to licensing requirements for exchanges offering trading, custody, or transaction services involving virtual assets.
Q: Which companies offer NFT services in Hong Kong?
A: Platforms like Element, Ucollex, Red Hare NFT, and Artifact Labs (spun off from South China Morning Post) lead NFT innovation locally.
Q: How does Hong Kong regulate crypto custody?
A: Custodians must meet strict SFC standards for cold storage, insurance, segregation of client assets, and regular audits — ensuring investor protection.
Q: Is DeFi regulated in Hong Kong?
A: While DeFi itself remains largely unregulated, any entity providing centralized services linked to DeFi protocols (e.g., staking-as-a-service) may fall under existing financial regulations.
🔚 Final Thoughts
Hong Kong's strategic push into Web3 — backed by clear regulation, institutional interest, and technological innovation — positions it as a global leader in the next generation of finance. From licensed exchanges to ETFs and metaverse ventures, the ecosystem continues to expand with purpose.
As compliance becomes standard and user protection strengthens, more investors are finding confidence in this evolving digital frontier.
👉 Stay ahead of the curve — explore how you can engage with Hong Kong’s booming Web3 scene today.