According to the Hong Kong Fintech Ecosystem report released by the Hong Kong Fintech Ecosystem report by the Hong Kong Department of Investment and Promotion, which regulates FDI, Hong Kong has more than 1,100 fintech companies, including 175 blockchain application or software companies and 111 digital asset and cryptocurrency companies, which have increased by 250% and 30% respectively since 2022. “Revenues in Hong Kong’s fintech market are expected to reach US$606 billion by 2032, with an annual growth rate of 28.5% between 2024 and 2032,” the report said.