03-30-2023 icon

Hong Kong Fund to Obtain $100M for Digital Currency Shares Purchase

By Lucy Adegbe
Hong Kong

As the Hong Kong region is commencing a comeback to the digital currency space, national investors are making moves to introduce a $100 million finance to fund the virtual industry. The recent finance protocol ProDigital Future is targeted at early-phase Web3 firms trained in the provincial market.

An early Thursday publication by Bloomberg noted that ProDigital Future has wrapped up its six months finance campaign phase with an approximated realization of almost $30 million. Nonetheless, the protocol aims to gather $100 million on or before the wind-up of the current year.

The equity fund is overseen by Ben Ng, an associate of the Hong Kong-located equity company SAIF Partners, alongside Curt Shi, an expert tech venture capitalist from the Chinese region. Currently, the likes of Sunwah Kingsway Capital Holdings and Golin International Group have signed up to be supportive parties to the equity fund.

ProDigital has taken the action to buy into about six virtual property projects with future metaverse GigaSpace and One Future Football, a virtual soccer association from the Australian region, presently functioning in secret.

Last October, the national executives of Hong Kong suggested the introduction of a bill to regulate digital currency. On the 20th of February 2023, the nation’s Securities and Futures Commission sent out a proposition for the approval regime of digital currency trading platforms, expected to begin in June.