The financial secretary of Hong Kong, Paul Chan, has stated that now is the "right time" for the city to push forward with Web3, despite the fluctuations in the crypto market. According to Chan, one of the three major directions proposed in the city's budget is the further development and application of Web3. Hong Kong plans to adopt a strategy that emphasizes both proper regulation and promoting development, with a focus on financial security, preventing systemic risks, and investor education and protection.

The new Gate Visa debit card offers users a simple method to convert their crypto assets into fiat for in-store and online purchases, providing a seamless and secure way for users to spend their cryptocurrency at the 80 million merchant locations that accept Visa worldwide.

The discussions are expected to be interesting to watch out given the regulatory scrutiny increasing in recent weeks.

Cryptocurrency exchange Gate. io is gearing up to launch a presence in Hong Kong following the local government's planned $6.4 million (50 million Hong Kong dollar) cash injection into Web3 as per the city’s 2023-24 budget.

Dash 2 Trade, a platform for crypto trading signals, bots, and analytics, received more than $14 million just days before its debut exchange listing on January 11, 2023. D2T token trading will begin at 10 am UTC on Gate. io, LBank, BitMart, and Uniswap. As the project's momentum developed, Dash 2 Trade announced earlier this week that it had been listed on Gate.io.