Web3 corporations are spending as much as $25M on HK crypto licenses: Report

In response to a June 27 report by native information outlet Foresight Information, Web3 corporations in Hong Kong are spending wherever between 20 million and 200 million Hong Kong {dollars} ($2.55 million and $25.5 million) for the acquisition of a Digital Asset Service Supplier (VASP) licenses. Sources defined:

Analysts at Foresight talked about that Hong Kong subsidiaries of exchanges resembling OKX, BitgetX, HashKey Professional, OSL and Gate.io have already begun operations. As of June 27, OKX has since grown to eight,800 registered customers in Hong Kong with a cumulative buying and selling quantity of $150 million within the particular administrative area (SAR) of China.

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