# From Telegram Ecosystem to RWA: Hong Kong is Incubating the Next Web3 Breakthrough

**Published by:** [Emmaaer](https://paragraph.com/@-emmaaer/)
**Published on:** 2025-04-06
**Categories:** web3 breakthrough, hk
**URL:** https://paragraph.com/@-emmaaer/from-telegram-ecosystem-to-rwa-hong-kong-is-incubating-the-next-web3-breakthrough

## Content

April 6, 2025 – The Hong Kong Convention and Exhibition Center hosted the annual blockchain extravaganza, the "2025 Hong Kong Web3 Carnival." As one of Asia’s most influential Web3 events, co-organized by Wanxiang Blockchain Labs and HashKey Group, with OKX Web3 as title sponsor, the gathering brought together top developers, investors, regulators, and industry leaders to explore cutting-edge blockchain innovations and financial evolution. This carnival wasn’t just a tech forum—it was a pivotal moment for Hong Kong to cement its status as a global Web3 hub. Since the Hong Kong government’s 2022 pro-Web3 policy shift, the local ecosystem has thrived with initiatives like stablecoin sandboxes and RWA (Real-World Asset) tokenization pilots, injecting confidence into the industry. On opening day, Lennix, OKX Global Chief Commercial Officer, emphasized in his keynote that “balancing compliance and innovation” will define the next phase of Web3. Hot topics included Bitcoin ecosystem expansion, Ethereum Layer 2 scaling, and AI-blockchain integration. With high-profile appearances by international projects like the TON Foundation, Hong Kong is fast becoming the bridge between Eastern and Western Web3 ecosystems. This four-day carnival may well redefine the future of decentralized technology.Global Web3 Leaders Chart the FutureFrom April 6–9, the 2025 Hong Kong Web3 Carnival ignited a storm of ideas at the Hong Kong Convention and Exhibition Center. As Asia’s largest Web3 event, it featured dozens of forums and interactive exhibitions, where industry titans, regulators, and developers debated the next wave of decentralized innovation.Keynote HighlightsOKX President Hong and CBO Lennix kicked off the main forum, discussing “Web3 Finance in the Age of Regulation”, stressing how exchanges can drive sustainable growth under compliance frameworks.Vitalik Buterin (Ethereum Co-founder) and Paul Chan (Hong Kong Financial Secretary) held a landmark dialogue on “Public Chains Powering the Real Economy”, sparking intense discussions.Deep-Dive SessionsFour parallel tracks covered DeFi, NFTs, cross-border payments, and more:April 7: The Bitcoin Ecosystem Summit (hosted by CKB Eco Fund) explored Layer 2 scaling, while SlowMist led talks on Web3 security best practices.April 8: The TON Foundation showcased 20+ ecosystem projects, including Telegram-based mini-games and AI Agent applications, stealing the spotlight.Chainlink x Animoca Brands hosted a closed-door “Infinite DeFi” session on oracle-powered open finance.Networking FrenzyBeyond panels, OKX Web3 Night—a VIP dinner with 300+ KOLs, developers, and VCs—became the ultimate East-West networking hub. Attendees with NFT tickets enjoyed 15% discounts and exclusive merch, proving Web3’s commercial viability. This carnival didn’t just highlight Hong Kong’s openness as a Web3 hub—it set the roadmap for the industry’s next chapter.NFTs & TON Ecosystem: Web3’s Commercial BreakthroughsThe carnival wasn’t just talk—it was a launchpad for real-world Web3 adoption, with NFT utilities and TON’s explosive growth taking center stage.NFT Tickets: Beyond CollectiblesAs title sponsor, OKX Web3 issued limited-edition NFT tickets, granting holders: ✔ 15% discount on event passes ✔ Exclusive entry lanes ✔ Rare physical merch Lennix (OKX CBO) noted: “NFTs are evolving from art to utility assets—think membership passes, identity verification, and more.”TON’s Meteoric RiseThe TON Foundation’s 216 sqm booth featured 20+ projects, from PayFi solutions to viral Telegram games like Hamster Kombat (100M+ users). AI Agent integrations demonstrated smart contracts’ next frontier. Anthony Tsivarev (TON Ecosystem Lead): “Telegram’s 1B+ users are a natural funnel for Web3. 2025 is TON’s breakout year.” Hong Kong’s Investment Promotion Team also set up a policy advisory desk, explaining stablecoin sandboxes and RWA tokenization to startups. From tech demos to real-world use cases, this carnival proved Web3 is ready for mass adoption.Hong Kong’s Web3 Playbook: Compliance Meets GlobalizationThe carnival doubled as a global policy forum, debating how Hong Kong can balance open innovation with regulation—a key challenge for Web3’s future.Stablecoin Sandbox & RWA PilotsHong Kong’s stablecoin sandbox entered Phase 2, with the first compliant stablecoin expected by end-2025.RWA tokenization trials launched, covering real estate, bonds, and commodities. Paul Chan (Financial Secretary): “Hong Kong aims to be the gold standard for compliant digital assets, not just a hype-driven market.”“Front Shop, Back Factory” DebateA heated panel discussed Hong Kong-Shenzhen collaboration: ✅ Pros: Hong Kong’s global finance + Shenzhen’s tech manufacturing = Web3 commercialization turbocharged. ❌ Cons: Cross-border data laws and jurisdictional gaps remain hurdles. OKX President Hong urged: “A Greater Bay Area regulatory sandbox is critical to avoid fragmentation.”Global Regulatory AlignmentPhilip Fei (Chainlink Labs APAC): “Cross-chain interoperability needs regulatory reciprocity. If Hong Kong’s stablecoin license is recognized in Singapore/EU, compliance costs plummet.” Hong Kong’s Monetary Authority confirmed talks with UAE, UK on mutual regulatory agreements. From policy debates to live pilots, Hong Kong is carving a third way for Web3—bridging innovation and compliance.Conclusion: Hong Kong’s Web3 Ambition Goes GlobalThe 2025 Hong Kong Web3 Carnival wasn’t just an event—it was a statement. As global regulations evolve, Hong Kong’s role as a “super connector” between East and West took center stage.Why Hong Kong?Unique positioning: Leverages China’s market + global compliance standards (unlike Singapore/Dubai).Policy momentum: Stablecoin/RWA pilots attract cross-border projects.Challenges AheadSpeed of regulation: Industry awaits clearer DeFi/DAO frameworks.U.S. influence: SEC rulings may sway firms’ Hong Kong plans.East vs. West: A Fusion Hub?U.S. projects focus on financial derivatives.Chinese teams prioritize real-world integration (e.g., Mantra Finance’s RWA protocols, Tencent Cloud’s decentralized storage). Hong Kong could become the melting pot for both.With record attendance and high-level policy dialogues, Hong Kong has positioned itself as Web3’s global stage. But to sustain this momentum, regulatory agility and talent retention will be key.

## Publication Information

- [Emmaaer](https://paragraph.com/@-emmaaer/): Publication homepage
- [All Posts](https://paragraph.com/@-emmaaer/): More posts from this publication
- [RSS Feed](https://api.paragraph.com/blogs/rss/@-emmaaer): Subscribe to updates

## Optional

- [Collect as NFT](https://paragraph.com/@-emmaaer/from-telegram-ecosystem-to-rwa-hong-kong-is-incubating-the-next-web3-breakthrough): Support the author by collecting this post
- [View Collectors](https://paragraph.com/@-emmaaer/from-telegram-ecosystem-to-rwa-hong-kong-is-incubating-the-next-web3-breakthrough/collectors): See who has collected this post