Flash News: OKX Ventures Leads Discussion on the Convergence of Traditional Banking and Web3 at Hong Kong Fintech Week 2023
HONG KONG, Nov. 07, 2023 (GLOBE NEWSWIRE) — OKX Ventures, the investment arm of leading Web3 technology company OKX, has issued updates for November 7, 2023.
OKX Ventures Leads Discussion on the Convergence of Traditional Banking and Web3 at Hong Kong Fintech Week 2023
OKX Ventures recently hosted a panel titled ‘When Banks Meet Web3’ at this year’s Hong Kong Fintech Week, Asia’s flagship financial technology conference. The panel brought together industry experts and thought leaders to discuss the convergence of traditional banking and the emerging Web3 space.
Moderated by OKX Ventures Investment Manager Michael Jiang, the panel featured the following speakers:
- Simon Zhu, Senior Product Director at OKLink (a subsidiary company of OKG that specializes in blockchain data and on-chain AML solutions)
- Bugra Celik, Director, Digital Asset, Global Private Banking & Wealth at HSBC
- Sam Su, Head of Asia Business at Bison Bank
- Devon Sin, Alternative Chief Executive at ZA Bank
During the panel, Simon, Bugra, Sam and Devon addressed pressing questions related to the adoption of real-world assets (RWAs) in the virtual asset space, the hurdles and challenges faced, and incentives for institutional clients to apply for the spot BTC ETF. They also shared their insights on Hong Kong’s regulatory developments as it pertains to virtual assets and the region’s openness to Web3.
Key highlights from the panel are as follows:
- Simon emphasized the advantages of RWAs, highlighting its potential in terms of automation and transparency. He also showcased OKLink’s expertise in blockchain technology and its ability to support financial institutions looking to enter the RWA space.
- Bugra stressed the importance of understanding the underlying assets being tokenized and the regulatory framework surrounding them. He also discussed the need for simplified technology and user experience to drive wider adoption.
- Sam expressed optimism about the growth potential of RWAs and its ability to bridge the gap between the virtual asset and traditional finance spheres. He also emphasized the importance of regulators fine-tuning their approach to welcome virtual assets as a valuable asset class.
- Devon explored the challenges of sustainability and retail market penetration in the tokenization of assets. He called for more use cases that directly benefit individuals to expand the reach of tokenization beyond institutional and private banking clients.
Attendees gained valuable insights into the trends, challenges and opportunities presented by the adoption of blockchain technology in the financial sector.
OKX is the Diamond Sponsor of Hong Kong Fintech Week 2023, Asia’s flagship financial technology conference. The main conference took place on November 2-3 at the Hong Kong Convention Centre.
For further information, please contact:
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About OKX Ventures
OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
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