Petaling Jaya, February 19, 2024 / AlexaBlockchain/ – Zetrix, a leading layer-1 public blockchain platform backed by MY E.G. Services Berhad (“MYEG”), has teamed up with Web3Labs Hong Kong, a powerhouse in Web3 development and investment, to introduce the Zetrix Global Accelerator Programme. This initiative aims to incubate and nurture promising Web3 startups from across the globe, with support from Hong Kong’s progressive Virtual Asset (VA) ecosystem.
The programme, set to open for applications in early March 2024, will provide a platform for up to 10 selected startups to leverage Zetrix’s infrastructure and connect with government or enterprise stakeholders. These startups will have the opportunity to build and deploy innovative applications that can potentially complement Hong Kong’s virtual asset roadmap.
In line with its objective to identify the most promising ventures, the six-month accelerator seeks projects demonstrating evidence of product-market maturity and possessing innovative and clearly defined development pipelines. Priority will be given to projects focusing on industries ripe for blockchain-based innovation in Hong Kong, including real-world asset (RWA) tokenisation, security token offerings, and stablecoin innovation.
The programme aims to introduce use cases in RWA, Environmental, Social, and Governance (ESG), and blockchain-based finance to enterprises, financial institutions, and government organizations. Furthermore, the partners of the programme, namely Zetrix, Web3Labs, and Summer Capital, will collaborate to secure regulatory approval for exchange-traded funds (ETFs) partially backed by tokens issued by programme participants.
The launch of this accelerator follows a strategic collaboration announced in January between Zetrix, Web3Labs, and venture capital firm Summer Capital. This collaboration aims to establish Zetrix as the preferred blockchain infrastructure for Hong Kong government-aligned applications and includes the introduction of a dedicated Global Accelerator Programme to support startups building on the Zetrix platform.
Johnny Ng, member of the Chinese People’s Political Consultative Conference (CPPCC) and Legislative Council member of Hong Kong Special Administrative Region (HKSAR), commended the programme’s launch, emphasizing its role in cementing Hong Kong’s position as a progressive international financial centre embracing Web3 developments.
Joseph Chee, Chairman of Summer Capital, echoed Ng’s enthusiasm, highlighting the remarkable advancements within Hong Kong’s Web3 landscape in recent years.
TS Wong, co-founder of Zetrix, expressed excitement about the collaboration, emphasizing the programme’s alignment with Zetrix’s vision of fostering a flourishing Web3 ecosystem. Wong also highlighted Zetrix’s commitment to providing comprehensive technical support to participating projects, including expertise in smart contract development and security audits.
The Zetrix Global Accelerator Programme represents a significant step towards nurturing Web3 innovation in Hong Kong and contributing to the city’s emergence as a hub for blockchain technology and virtual asset development. With applications set to open soon, the programme is poised to attract top-tier startups from around the world, driving forward the adoption and integration of blockchain technology in Hong Kong’s economy.
Source: Zetrix
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