KPMG: Hong Kong, Singapore and other major financial hubs place greater emphasis on developing and launching virtual currencies and RWA tokens

On August 10, KPMG yesterday released its “Fintech Trends” report, which revealed that 438 deals were recorded in the first half of the year, raising $3.8 billion in fintech in the Asia-Pacific region, which is placing greater emphasis on the development and launch of virtual currencies and tokens for real-world assets.
Major financial hubs such as Hong Kong, Singapore and Japan are committed to balancing innovation and regulation, and continue to explore and approve activities that blend traditional and decentralized finance while protecting investor rights. The Hong Kong government is actively developing cryptocurrency regulation to support cryptocurrency trading and other related activities.
In the first half of 2024, the HKMA launched the second phase of the e-HKD pilot program and is promoting the development of Hong Kong as an international virtual asset center through initiatives to attract cryptocurrency businesses and enhance Hong Kong's financial ecosystem.