Alchemy Pay Pursues Impactful Presence in Hong Kong
Alchemy Pay Returns to Hong Kong! In alignment with Hong Kong’s growing ambition to become Asia’s next crypto hub, Alchemy Pay has identified Hong Kong as a key strategic region. Aiming for a significant impact, we are actively participating in the region’s largest gathering, the Hong Kong Web3 Festival 2024, alongside numerous side events and meet-ups.
Equipped with cutting-edge payment solutions, including On & Off-Ramp services and the Crypto Card, Alchemy Pay leads the charge in revolutionizing payment infrastructure by seamlessly connecting the fiat and crypto realms. Our active involvement in Hong Kong highlights our steadfast dedication to narrowing the divide and promoting worldwide adoption of crypto for everyday use, thereby accelerating the journey towards mass adoption of crypto.
The Biggest Gathering in Hong Kong
Taking place in Hong Kong from April 6–9, the Hong Kong Web3 Festival spans an impressive venue of nearly 9,000 square meters and features over 120 associated side events. Centered on pivotal themes within each Web3 domain, the festival invites industry frontrunners around the globe, alongside the most popular and promising projects, to present their Web3 technological innovations. Topics covered include building a digital economic hub in Hong Kong, Web3+AI, DEPIN, Web3 payments, pathways to mass adoption, the BTC ecosystem, restaking & DeFi, and more. The event boasts a grand scale, attracting over 50,000 participants, 300 speakers, and more than 150 exhibitors, marking it as a landmark gathering in the Web3 space.
Hong Kong government’s positive policies and stance
The Hong Kong government’s policies and stance have consistently been a focal point of interest, shaping the trajectory and future progression of the crypto landscape in the region. Key government representatives from Hong Kong have taken the stage at the conference, expressing their commitment to fostering compliance within the Web3 industry and cultivating an environment of openness and transparency in regulation. Such initiatives aim to create conducive conditions wherein projects like Alchemy Pay can flourish and contribute to the evolving crypto ecosystem. Notably, Alchemy Pay keeps following these regulation trends and is in the process of obtaining a Money Service Operators (MSO) License within this regulatory framework.
During the opening ceremony, Michael Wong Wai-lun, GBS, JP, Acting Financial Secretary of the Government of the Hong Kong Special Administrative Region, highlighted the government’s support for two key sectors within the Web3 realm: virtual asset trading platforms and Web3 developers. He disclosed the government’s intention to regulate over-the-counter (OTC) trading of virtual assets and permit intermediaries to facilitate trading of eligible virtual assets, futures, and exchange-traded funds (ETFs) within a legal framework.
Wong also emphasized the significant presence of Web3-related enterprises in Hong Kong, with over 220 companies hailing from more than 20 countries and regions, including the Mainland, Europe, and the United States have set up offices in Hong Kong. These companies encompass a wide array of sectors such as virtual asset exchanges, blockchain infrastructure firms, cybersecurity companies specializing in blockchain, virtual currency wallets, and payment service providers.
Alchemy Pay at the Centre During Web3 Festival
Adam Elfarouq Farhat, our APAC Director of Partnerships, delivered an exceptional and insightful address on behalf of Alchemy Pay at the Web3 Payment Re-imagined forum. His speech delved into the broader global cryptocurrency landscape, highlighted key crypto trends in Hong Kong, and elucidated Alchemy Pay’s strategic positioning within these trends. Moreover, he elaborated on how Alchemy Pay tackles web3 accessibility challenges through its innovative solutions and extensive partnerships.
Throughout the Web3 Festival week, the Alchemy Pay team actively participated in and co-hosted various events, including The Oak Grove Crypto 2024, The Hong Kong Web3.0 Spring Summit, the Conflux Network’s “Fresh in the Ecosystem,” the 2024 DePIN Global Hardware Conference, and “zkMe and Beyond: Shaping the Future of Identity.” These engagements converged opinions from the East and West and gathered experts from diverse projects and backgrounds. They also facilitated connections with industry leaders, potential clients, and partners, while also fostering opportunities for further collaboration.
Alchemy Pay Reunion Gathering in Hong Kong
This has been the second consecutive year that the Alchemy Pay team has gathered in Hong Kong for a reunion. By being the first Web3 payment project to enter the Hong Kong market, Alchemy Pay has established its presence and taken a series of actions. In last year, Alchemy Pay ran a month-long billboard advertising campaign in Hong Kong during Hong Kong Web3 Festival to showcase appreciation to Hong Kong’s openness and acceptance of the Web3 industry.The Alchemy Pay and associated ACH token branding was seen by millions as commercials passed by on buses, in the airport and in major landmark sites such as Causeway Bay, Sheung Wan, Mongkok, Tsim Sha Tsui.
As Hong Kong is set to approve spot Bitcoin ETFs in April, the advancement marks another encouraging event for Hong Kong’s aspirations to become a prominent crypto hub in and beyond Asia. By following this trend, Alchemy Pay remains a keen focus on global policy advancements, enhances its services and further expands its leading position in the crypto payment industry through continuous growth.
About Alchemy Pay
Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its On & Off Ramp solution, Crypto Card, Web3 Digital Bank, NFT Checkout, and Crypto Payments, Alchemy Pay supports payments in 173 countries.
The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. The Web3 Digital Bank offers an innovative solution, allowing Web3 enterprises to open multi-fiat accounts and facilitating instant conversion between fiat and cryptocurrencies.
ACH is the Alchemy Pay network token on the Ethereum blockchain.
