Hong Kong's Cyberport, a government-operated business hub, has seen substantial growth, now hosting over 270 blockchain-related enterprises after integrating more than 120 firms in just 16 months. On November 19, the Legislative Council of the Hong Kong Special Administrative Region discussed Cyberport's initiatives aimed at developing the Web3, crypto, and blockchain ecosystems, bolstered by a $50 million government fund for the 2023-24 budget. The Cyberport network now includes three unicorns, with founders coming from over 20 diverse countries. Additionally, Cyberport firms are actively applying blockchain technology in various real-world scenarios, including smart living, digital entertainment, fintech, and cybersecurity. To further enhance collaboration within its network, Cyberport is recruiting specialists in blockchain security and custody solutions. Also, Hong Kong's financial regulator announced plans to issue licenses to several Virtual Asset Trading Platforms (VATPs) in the coming year, with ongoing assessments currently for 16 additional companies alongside three already licensed exchanges.

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