11/06/24

FINTECH: Hong Kong and Switzerland Forge Stronger Ties in Fintech Innovation

As published on: cointrust.com, Tuesday 11 June, 2024. 

Hong Kong and Switzerland are each making significant strides in the realm of blockchain and cryptographic technologies. Seeking to accelerate their advancements through collaboration, Invest Hong Kong (InvestHK) and the Crypto Valley Association (CVA) of Zug, Switzerland, have entered into a memorandum of understanding (MoU) signed at the 2024 Crypto Valley Conference.

The purpose of the MoU is to bolster the cooperative relationship between InvestHK and CVA, with a focus on strengthening the fintech ecosystems of both Hong Kong and Switzerland. The agreement emphasizes the importance of providing consistent updates based on the latest market information, enabling companies in both regions to stay informed about fintech trends and developments. This initiative aims to facilitate a deeper understanding of the evolving landscape for businesses operating within these two prominent financial hubs.

One of the core objectives of the MoU is to encourage companies, startups, and investors to explore opportunities within key areas by offering pertinent information and fostering network building. Additionally, the agreement supports the organization of incoming business missions and investment promotion events, which are designed to stimulate bilateral investment between the two economies. By doing so, the MoU aims to create a conducive environment for business growth and innovation on both sides.

The signing ceremony featured several notable representatives, including King Leung, the global head of financial services and fintech at InvestHK, Ilya Volkov, a board member of the Crypto Valley Association, and Nikoletta Csanyi, the executive director of the Crypto Valley Association.

Alpha Lau, the director-general of investment promotion at InvestHK, conveyed that Hong Kong is strategically positioned to act as a value-adding super-connector that fosters innovation and its commercialization. Lau noted that InvestHK is dedicated to supporting businesses aiming to scale and achieve success in Hong Kong and beyond. He highlighted that the MoU marks a significant milestone in the collaboration between the fintech ecosystems of Hong Kong and Switzerland. Moreover, it reinforces Hong Kong’s status as a premier destination for fintech and Web3 innovation. Lau expressed enthusiasm for facilitating the integration of advanced technologies into Hong Kong’s international financial services system, which would further enhance the city’s global financial hub status.

Nikoletta Csanyi, the executive director of the Crypto Valley Association, shared her perspective on the partnership by emphasizing that innovation transcends geographical boundaries. She indicated that strategic collaborations like the one between InvestHK and CVA are crucial for building a more interconnected global fintech ecosystem. Csanyi elaborated that the MoU represents a commitment to fostering collaboration, advancing technological developments, and creating growth and innovation opportunities between the two ecosystems. She stressed that this partnership has the potential to shape the future of finance and position Hong Kong and Switzerland at the forefront of fintech excellence.

In conclusion, the MoU between InvestHK and the Crypto Valley Association is a strategic move aimed at enhancing the fintech landscapes of both Hong Kong and Switzerland. By leveraging each other’s strengths and fostering close cooperation, both entities aim to drive significant advancements in blockchain and cryptographic technologies. This collaboration is set to pave the way for a more interconnected global fintech ecosystem, with Hong Kong and Switzerland leading the charge towards fintech excellence.

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Hong Kong Switzerland FinTech

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