Hong Kong Crypto Firms Secure $1.5B in July—Asia’s Web3 Hub Charges Ahead

Hong Kong’s crypto ambitions just got a $1.5 billion boost—and traditional finance didn’t see it coming.

The Gold Rush 2.0

While Wall Street hedges, Hong Kong’s firms are plowing fresh capital into digital asset infrastructure. July’s haul signals a pivot: Asia’s financial hub isn’t waiting for regulatory hand-holding.

Follow the Money

The capital injection—all private—bypasses the usual VC gatekeepers. Smart money’s betting on real-world tokenization and institutional-grade custody solutions, not just speculative trading.

Cynic’s Corner

Meanwhile, traditional banks are still ‘evaluating blockchain use cases’ over $500 coffees. Slow clap for innovation.

OSL, Dmall, SenseTime Lead Hong Kong’s Crypto Push

Among them are prominent names like OSL Group, Dmall Inc, and artificial intelligence firm SenseTime Group.

OSL Group, a digital asset platform, raised $300 million to fuel global expansion and invest in stablecoin infrastructure and blockchain-based payments.

The placement was fast-tracked in under three days, with bookbuilding completed in less than three hours.

According to CFO Ivan Wong, investor enthusiasm was “palpable,” with participation from sovereign wealth and hedge funds.

This surge in funding activity coincides with Hong Kong’s rollout of new stablecoin regulations, effective Friday.

The regulatory framework, passed in May, aims to position the city ahead of other global markets, including the US, by offering clarity around asset-backed digital tokens.

“There’s a real sense of acceleration in digital asset fundraising,” said Anthony Pang of Baker McKenzie, which advised on Dmall’s HK$388 million share sale. “The market momentum is building fast.”

BREAKING:Hong Kong official just said LIVE on CNBC.

They’re opening up for Bitcoin and Crypto.

China is getting ready!! pic.twitter.com/PFSpR7fiVL

Investor appetite is being fueled by Optimism around stablecoins, which are designed to maintain value against fiat currencies like the US dollar.

Stocks tied to the stablecoin sector have surged, with a dedicated index up 65% year-to-date, significantly outperforming the broader Hang Seng Index.

Still, Hong Kong’s central bank has urged caution, warning of “frothiness” and “excessive exuberance” as excitement intensifies.

Beyond public markets, crypto-related enthusiasm is spilling into venture capital.

Kun, a digital payments startup backed by private investors, raised over $50 million in July, with legal backing from Shanghai-based attorney Liu Honglin. “This isn’t a bubble,” Liu noted. “It’s the beginning of a broader trend.”

SenseTime, JF SmartInvest Fuel Tokenized Asset Surge

Other firms riding the wave include JF SmartInvest Holdings, which raised HK$785 million for investments in tokenized Real World Assets (RWA), and SenseTime, which secured HK$2.5 billion to explore blockchain and stablecoin applications.

Crypto FLOW Technology, ZA Online, and Easou Tech have also made equity moves aligned with digital asset expansion.

Traditional finance players are also leaning in. “Custodians, investment managers — they all want in,” said Kishore Bhindi of Linklaters.

“Interest in fintech, particularly stablecoins and tokenized assets, is set to rise.”

Hong Kong has unveiled its second major policy statement on digital assets, placing stablecoin regulation and real-world asset (RWA) tokenization at the Core of its strategy to become a global fintech hub.

The new “LEAP” framework focuses on legal clarity, ecosystem growth, real-world adoption, and talent development, with a stablecoin licensing regime set to launch on August 1.