Gate Group Gears Up for Hong Kong Web3 Festival 2023 and Plans to Apply for SFC Licences

MAJURO, Marshall Islands, April 10, 2023 /PRNewswire/ -- Gate Group, a leading cryptocurrency exchange and services provider, is thrilled to announce its participation in the inaugural Hong Kong Web3 Festival 2023, scheduled for April 12-15, 2023, at the Hong Kong Convention and Exhibition Centre (HKCEC). The event promises to attract a diverse audience, including over 10,000 attendees, 300 distinguished industry speakers, around 100 Web3 projects, community partners, and media partners from across the globe, fostering a collaborative and supportive ecosystem for the blockchain industry.

Edwin Cheung, the Business Lead for Gate Hong Kong, will represent Gate Group at the Hong Kong Web3 Festival 2023 and engage in a variety of Web3 events throughout the week. In addition, Gate HK will also co-host the BTS Labs Network Assembly on April 12, 2023 together with BTS Labs, further demonstrating their commitment to fostering growth and engagement within the Hong Kong blockchain community.

Alongside its involvement in the Web3 Festival, Gate Group's Hong Kong entity, Gate Digital Limited (Gate HK), has confirmed to apply for licences with the Securities and Futures Commission (SFC) in Hong Kong. This comes after the Group successfully obtained the Trust and Corporate Service Provider (TCSP) licence from the Company Registry in Hong Kong, allowing the Group to offer virtual assets custody services.

Gate HK plans to apply for the Virtual Asset Service Provider (VASP) Licence under the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022 for trading non-security tokens, as well as the Licences under the Securities and Futures Ordinance for Type 1 (Dealing in Securities) and Type 7 (Providing Automated Trading Services) regulated activities for trading security tokens.

The anticipated VASP Licences will ensure Gate HK maintains the highest standards of security and regulatory compliance, fostering trust and confidence among its customers. Gate Group is eager to contribute to the groundbreaking Web3 Festival in Hong Kong and support the ongoing development and expansion of the Web3 ecosystem.

SOURCE Gate.io