In the future, there will definitely be more and more Hong Kong securities firms offering crypto trading services.

However, institutionalized and compliant financial capital will not bring about much; it will only lead to more shell companies and narrative packaging emerging.

Essentially, it's still a lack of clients; ultimately, traffic and attention are fundamental, and Web3 just happens to be a relatively easy incremental story to tell.

The anxiety of attracting new clients is the explicit problem in Hong Kong's financial sector; the more financialized a place is, the further it moves away from value reconstruction.