Hong Kong Virtual Asset Exchange (HKVAX) and Alibaba Cloud have established a partnership to explore and develop technological services and solutions for virtual assets. The collaboration, announced at Alibaba Cloud Summit Hong Kong 2024, will focus on technological infrastructure, security frameworks, and innovations in Security Token Offerings (STO) and Real World Asset (RWA) services.
HKVAX, a leading virtual asset trading platform in Hong Kong, provides professional-grade digital asset services with a focus on security and compliance. Alibaba Cloud, a global leader in cloud computing and artificial intelligence, serves over 200 countries and regions.
“This partnership represents our shared vision for innovation in Hong Kong’s virtual asset sector,” said Simon Liu, Co-Founder and CTO of HKVAX. “Together with Alibaba Cloud, we look forward to strengthening Hong Kong’s virtual asset infrastructure. The technological capabilities this collaboration brings will enable us to develop more sophisticated and secure solutions for our clients.”
“Our collaboration with Alibaba Cloud marks a significant milestone in HKVAX’s development,” said Dr. Anthony Ng, Co-Founder and CEO of HKVAX. ” As Hong Kong continues to establish itself as a premier virtual asset hub, this strategic alliance will enhance our ability to serve the evolving needs of institutional clients in the virtual asset market.”
“MoU signed with HKVAX is a big progress and Alibaba Cloud will support HKVAX’s mission to be a technology and business leader in delivering secure, compliant virtual asset services in Hong Kong, and Alibaba Cloud will put more resources to support WEB3 industry in the future, “said by Annie Wang, General Manager of Alibaba Cloud Intelligence Hong Kong.
The collaboration between HKVAX and Alibaba Cloud reflects the growing sophistication of Hong Kong’s virtual asset ecosystem and demonstrates both companies’ commitment to driving technological advancement in the financial sector.