Hong Kong sees wealthtech, regtech segments driving fintech growth

Hong Kong sees wealthtech, regtech segments driving fintech growth

Hong Kong. Source: Robert Bye/Unsplash

Fintech segments including regtech (regulation tech) and wealthtech have seen good traction in the recent few years and will remain fast-growing sectors driven by “regulator-initiated demand,” according to King Leung, head of fintech at Invest HK, a government body that supports foreign investments in Hong Kong.

Besides regtech and wealthtech, the local authorities have the “capacity and interest” to develop all major fintech sub-sectors, ranging from virtual banking and insurtech to blockchain and digital trading, to serve “substantial needs” of businesses in the city, he said.

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