Welcome to read Techub News's "Weekly Highlights of Hong Kong Web3." In this week's report, we will summarize the significant events and developments in the Hong Kong Web3 sector from December 15 to December 21, along with the latest data insights and detailed event previews, helping you quickly and comprehensively understand the progress in Hong Kong's Web3 field last week.
Hot News
HashKey sets mid-to-high pricing, international placement receives multiple coverage
According to Huigang Communications, HashKey Group (03887 HK) has set its IPO price range at HKD 5.95–6.95, with the market expecting its pricing to lean towards the mid-to-high end of the range. The public offering recorded approximately 395 times oversubscription, with subscription funds around HKD 66.8 billion and about 89,000 participants…
Hong Kong JPEX case: 8 defendants charged with fraud, case postponed to March next year for retrial
According to the Hong Kong Economic Journal, eight defendants in the fraud case involving the virtual asset trading platform JPEX have been charged with multiple offenses, and the case has been postponed to March 16, 2026, for retrial. The charges include conspiracy to commit fraud, fraud, and fraudulent activities…
Animoca Brands has signed a term sheet with GROW Investment Group, a Chinese investment and asset management platform, to strategically acquire a stake in its licensed subsidiary GROW Digital Wealth in Hong Kong…
The Hong Kong Securities and Futures Commission (SFC) has included the "Hong Kong Stablecoin Exchange" in the category of suspicious virtual asset trading platforms. The SFC pointed out that this entity claims to operate a virtual asset trading platform on its related website…
RedotPay completes $107 million Series B financing, led by Goodwater Capital
According to The Block, stablecoin payment platform RedotPay has completed $107 million in Series B financing, led by Goodwater Capital. RedotPay, headquartered in Hong Kong, focuses on providing global payment services using stablecoins and has over 6 million registered users in more than 100 markets, with a total financing amount of $194 million this year…
HashKey Holdings listed on the Hong Kong Stock Exchange today
Today, HashKey Holdings was listed on the Hong Kong Stock Exchange, raising approximately HKD 1.6 billion (about USD 200 million) in its initial public offering (IPO), with a pricing of HKD 6.68 per share, close to the upper limit of the pricing range…
Standard Chartered launches blockchain tokenized deposit service
According to Ming Pao, Standard Chartered Bank announced that, under the Hong Kong Monetary Authority's Distributed Ledger Technology Regulatory Sandbox and Ensemble project framework, it is leveraging Ant International's blockchain-based real-time treasury management platform, Whale…
Geely Technology plans to issue Huanghuali RWA tokens in Hong Kong, aiming to raise HKD 100 million
According to the Hong Kong Economic Journal, Geely Technology Group, a subsidiary of Geely Automobile, plans to convert rare Huanghuali wood into tradable RWA tokens. The company's chief representative in Hainan, Zhao Xiaobao, stated that this move could provide financial support to industries facing cash flow pressures…
The Hong Kong SFC stated that as of the end of November, the total market value of spot exchange-traded funds (ETFs) for virtual assets recognized by the SFC increased by 33% year-on-year to HKD 5.47 billion, with a total of 11 ETFs…
According to Jin10 data, on December 18, the "Web5 Ecosystem" summit was held in Hong Kong, where the Deputy Secretary for Financial Services and the Treasury, Chan Ho-lam, stated that government departments are studying the legal regulatory framework for tokenized bond issuance and trading, exploring optimization measures…
According to Ming Pao, the Secretary for Financial Services and the Treasury, Xu Zhengyu, stated that as of the end of September this year, authorities had received a total of 36 stablecoin license applications and expect to issue a batch of licenses early next year…
Industry Observation
The warning clearly states that digital RMB is a digital form of legal currency, operating under a "central bank - digital RMB business operation institution" dual-layer operational structure, with no private promotion centers established and no digital RMB promoter examinations existing. Criminals publish false information through online platforms, using "recruiting promoters," promising "exchange subsidies" and "transaction rebates" as bait to lure the public into joining chat groups, thereby committing fraud or even pyramid schemes.
The central bank clearly states that digital RMB is a legal currency used for payments and has no speculative space. Any claims of "exchange subsidies," "transaction rebates," "high returns," or incitement to speculate on currencies are fraudulent. Criminals often use such rhetoric to induce the public to disclose personal sensitive information or participate in pyramid schemes. The public must remain vigilant and maintain a clear mind regarding investments that promise "guaranteed profits," to avoid being deceived. If suspected fraud occurs, please report it immediately.
JPMorgan "escapes" the Federal Reserve, aggressively investing $350 billion in U.S. Treasuries
Since 2023, JPMorgan has withdrawn nearly $350 billion in cash from its Federal Reserve account and invested most of it in U.S. government bonds. This move is a defensive strategy by the bank to guard against the threat of interest rate cuts that could erode its profits.
According to data compiled by industry data tracking agency BankRegData, as of the third quarter of this year, the bank, which has assets exceeding $4 trillion, saw its balance at the Federal Reserve plummet from $409 billion at the end of 2023 to just $63 billion.
During the same period, the bank increased its holdings of U.S. Treasuries from $231 billion to $450 billion. This operation allows it to lock in higher yields in advance to cope with potential interest rate cuts by the Federal Reserve.
HashKey successfully listed: Opening a "compliance premium" era for the Chinese crypto circle
On December 17, 2025, with the sound of a bell at the Hong Kong Stock Exchange, HashKey Group officially completed its transformation from a compliant exchange to a publicly listed company. After two years of deep industry cultivation and policy adaptation, HashKey's listing not only provides an answer for the construction of Hong Kong as a "crypto hub" but also brings significant shock and profound reflection to the domestic crypto circle under strict regulatory environments.
"The future of finance is on Coinbase. All in one app," Coinbase set a new direction for its future in the 2026 System Update release with these two short sentences.
As an industry leader with a market capitalization of over $65 billion and the largest cryptocurrency trading platform in the U.S., Coinbase does not intend to remain complacent within existing boundaries. It is launching the most aggressive and disruptive product expansion since its establishment 13 years ago: breaking down traditional barriers in the financial world by integrating crypto assets, stocks, derivatives, on-chain ecosystems, and even prediction markets into a seamless application experience. From partnering with Kalshi to launch prediction markets to integrating Jupiter for seamless Solana DEX trading; from launching zero-commission stock trading to customizing stablecoins for enterprises, this series of initiatives is not a collection of scattered product updates but revolves around a core strategy: building a "universal exchange" that transcends cryptocurrencies.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflows and Outflows
According to ichaingo data statistics, last week, the net subscription for Hong Kong Bitcoin spot ETFs was approximately 8.98 units, with a total ETF holding value of about $330 million, a decrease of about $20 million in holding value; the Ethereum spot ETF had a subscription and redemption volume of 0 units, with a total ETF holding value of about $9.561 million, a decrease of about $639,000 in holding value.
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