Summer Capital Limited, a prominent investment management and advisory firm operating in Hong Kong and Southeast Asia, has unveiled its plan to become a node host on Zetrix, a public blockchain platform that serves as the international supernode for China’s national blockchain, Xinghuo BIF. This strategic move comes at a pivotal moment, aligning with the burgeoning digital assets and blockchain industry in Hong Kong.
A Thriving Environment for Blockchain:
In June 2023, the Hong Kong Securities and Futures Commission (SFC) introduced a fresh regulatory framework specifically designed for virtual asset trading platforms. This development is poised to stimulate the adoption of cryptocurrencies within the city. Additionally, the government of Hong Kong has taken the initiative to establish the Task Force on Promoting Web3 Development, with the primary objective of nurturing the integration of blockchain technology in various sectors, including finance, trade, business operations, and consumer applications.
Zetrix’s Strategic Position:
Amidst these evolving regulatory and governmental efforts, Zetrix finds itself uniquely positioned to capitalize on the burgeoning blockchain environment in Hong Kong. Zetrix’s key advantage lies in its ability to facilitate global trade through its close association with Xinghuo BIF. Developed by the Chinese Academy of Information & Communication Technology (“CAICT”), an institute owned by the Ministry of Industry and Information Technology, Xinghuo BIF represents China’s national blockchain infrastructure. It offers a secure and reliable platform for businesses and government entities to create and deploy blockchain applications.
By aligning with Xinghuo BIF, Zetrix offers users an unprecedented gateway to China’s vast digital economy. This sets the stage for Zetrix to emerge as an ideal platform for businesses seeking to expand their operations into China or engage in trade with Chinese partners.
Summer Capital’s Strategic Role:
Joseph Chee, Chairman of Summer Capital, expressed his enthusiasm about the partnership with Zetrix, emphasizing their shared vision of enhancing global trade by leveraging the capabilities of China’s national blockchain, Xinghuo BIF. He noted that Zetrix, with its foundational tools for the adoption of blockchain technology across industries, is well-positioned to drive the next wave of web3 innovation.
Summer Capital, in conjunction with its affiliated entities, maintains a portfolio of leading startups in Hong Kong. This portfolio includes Hashkey Group, a top regulated virtual asset service provider in Asia, Animoca Brands, a Web3 leader in establishing digital property rights and open metaverse, and SEBA Bank, which recently secured approval-in-principle licenses from the Securities and Futures Commission to offer virtual asset services in Hong Kong.
Strategic Partnership:
TS Wong, Co-Founder of Zetrix, expressed gratitude for the collaboration with Summer Capital, highlighting the firm’s extensive portfolio and proven track record in supporting leading web3 companies. He believes that Summer Capital’s presence and network in Hong Kong will significantly contribute to achieving Zetrix’s strategic goals.
In conclusion, Summer Capital’s decision to host nodes on Zetrix is a testament to the growing potential of blockchain technology and digital assets in Hong Kong. With the backing of Zetrix and access to China’s national blockchain, Xinghuo BIF, this partnership is poised to foster innovation, enhance global trade, and further solidify Hong Kong’s position as a hub for blockchain and web3 development