Hong Kong Fintech Ecosystem Report

PART I: HONG KONG FINTECH AT A GLANCE 9 Growth Opportunities for Businesses Hong Kong’s fintech ecosystem is characterized by diversity, encompassing a wide range of sectors, including wealthtech, blockchain application/software, payments and remittances, credit-tech, insurtech, regtech, digital assets and cryptocurrency, and green fintech.¹9 The number of fintech companies in Hong Kong has grown across nearly all sub-sectors from 2022 to 2024. As of July 2024, Hong Kong boasts the highest number of fintech companies in the categories of wealthtech, blockchain, digital asset and cryptocurrency, payment and remittance, along with other fintech enterprise solution (e.g., AI enterprise solutions applicable in the financial services industry, data providers to financial institutions). The sub-sectors of blockchain application/software and digital assets and cryptocurrency have experienced significant growth over two consecutive years from 2022 to 2024. The blockchain application/software sub-sectors saw a 250% increase, while the digital asset and cryptocurrency sub-sectors grew by nearly 30%, reflecting the success of Hong Kong’s progressive policies embracing digital assets and Web3, which were launched since October 2022. 0 20 40 60 80 100 120 140 160 180 200 Accelerator & Innovation Lab Blockchain Application / Software Compliance & RegTech CreditTech Digital Asset & Cryptocurrency Fintech Cybersecurity Fintech Multiplier Fintech Private Investment Firm Green Fintech InsurTech Other Fintech Enterprise Solution Payment & Remittance Virtual Bank Virtual Insurer WealthTech Others 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 Number of Companies Note: The fintech companies reflected in this chart consist of: 1. Fintech-related startups, companies, corporations and organizations served/ tracked by InvestHK. 2. Fintech companies that are registered/located at Cyberport. 3. Fintech companies that are registered/located at Hong Kong Science and Technology Parks Corporation (HKSTP). Source: InvestHK Number of Fintech Companies in Hong Kong by Sub-sectors, 2022 -2024 19. https://www.hongkong-fintech.hk/en/insights/news/news-2024/fact-sheet-hong-kong-fintech-landscape/index.html