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Hong Kong: December 2023

Briefly, in December 2023, the Hong Kong tech news snapshot touched on Animoca Brands’ backing of the TON blockchain system, cross-border QR driven payments between Hong Kong and Thailand, and the entry of Saudi equities to the HKSX.

Other editions: Asia’s tech news, daily (via LinkedIn, Facebook & Twitter/X); and Indo-Pacific technology newsletters, weekly.

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  • Hong Kong’s Animoca Brands backs TON blockchain ecosystem, adding to Telegram’s endorsement of TON as the messaging platform’s blockchain-of-choice >>>

Gaming and metaverse-focused venture capital firm Animoca Brands has made an investment in the TON ecosystem and become the largest validator on the TON blockchain.

TON received the endorsement of Telegram as its blockchain of choice for Web3-related developments in September, giving potential TON-based projects a prospective target audience of the messaging app’s 800 million users.

Through this linkage, travelers from Thailand and Hong Kong will be able to make retail payments by using their mobile payment applications to scan the Hong Kong FPS QR code and Thai PromptPay QR Code displayed by merchants respectively. Users will benefit from an additional efficient payment means, while merchants will be able to receive their funds immediately. This payment connectivity will provide travellers with greater convenience, hence supporting tourism and economic activities of Hong Kong and Thailand.

“Asia’s first exchange traded fund investing solely in Saudi Arabia’s equities market has listed on the Hong Kong exchange attracting $1BN in initial investment, marking one of the territory’s largest ever debuts.”

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