With the utilization of technology, like mobile gaming, Livi Bank has become able to avail several business chances dealing with the borrowers, the requirements of whom have been ignored by the 160 authorized banks within the city, as per a virtual bank’s prominent official. He stated that ‘COVID-19’ has been effective in promoting digital banking’s adoption in Hong Kong, boosting the technologies like distant identity checks, and distant consumer onboarding.
Renowned Blockchain-Based Game StepN to Start Earliest Zonal Hub in Hong Kong
The well-known project, dealing with NFT and crypto, was introduced in December previous year. It is witnessing the establishment of its initial physical workplace at Cyberport (the government-owned venture accelerator based in Hong Kong), as per Jerry Huang (the co-founder of the firm). This move was inked following George Lam’s (the chairman of Cyberport) visit to Sydney-based STEPN, its headquarters, as well as invited the firm to participate in the Hong Kong-based community, in the words of SCMP.
The move of STEPN to organize a zonal workplace in Hong Kong seems unconventional at a time when the country is going through a decreasing workforce, particularly while dealing with tech talents. The country’s labor force plummeted by six percent to 3.75M since 2018, close to a decade-low. The cumulative figure of the appointed, as well as those pursuing to be, dropped by nearly 33,700 during April just in Hong Kong, as reported by Strait Times.
Several things like economic issues, the COVID effect, as well as the deficiency of reasonable amenities and housing have played a significant role in the exodus of the workforce to such an extent. Nonetheless, SCMP referred to Huang of STEPN who asserted that the country denotes a fine mixture of Eastern as well as Western cultures, and even now it occupies a place among the top financial hubs across the globe.
The relocation of the staff will not be mandated by STEPN, and the initial move (dealing with the present employees to the latest office in Hong Kong) may take into account a core group of above 10 persons, according to Huang. The project STEPN focuses on integrating rare and exclusive ideas. These concepts are related to carbon neutrality, cryptocurrency, non-fungible tokens (NFTs), and Web3.
STEPN Allures Investors and Users with a Seed Funding Round of $5M
On the 20th of January of this year, STEPN successfully completed a seed funding round with an approximate value of 5 million dollars. Both Folius Ventures and Sequoia Capital India were the organizations that took the initiative to lead their respective funding rounds. This project offers its customers the opportunity to earn rewards in the form of virtual objects that can be used in the real world, such as cryptocurrencies or NFT sneakers.
With this move, the value of its native token GMT elevated by 500% in the recent March. As a result of this, additional investors and customers were allured and, in April, Binance (considered among the most prominent crypto exchanges in the world) declared a systematic and undisclosed investment in the project STEPN.
