On August 13, the "FireNow" Asia Web 3.0 Institutional Summit organized by New Fire Technology Holdings Limited (referred to as "New Fire Technology", stock code: 1611.HK) officially opened at the Ritz-Carlton Hotel in Hong Kong. HashKey Group COO Livio Weng delivered a keynote speech on the topic of "The Institutional Era of Hong Kong Web 3". Livio shared in the speech that more than a dozen traditional brokerage licenses VA (virtual asset service) such as Futu and Tiger have recently been upgraded and released to run Crypto. The main brokerages are all HashKey customers. The HashKey Omnibus brokerage business is open to all Financial Institution Groups holding Hong Kong SFC1 licenses. At present, dozens of leading Hong Kong brokerages have been connected. In addition, Livio shared that the weekly trading volume of the brokerages cooperating with HashKey Exchange has exceeded the 100 million Hong Kong dollar mark, and the user capital has exceeded 4.50 billion Hong Kong dollars. It has served more than 200 corporate and institutional customers. Regarding the development of virtual asset spot ETFs in Hong Kong, Livio revealed that ETH ETF Staking - "digital US bonds" is a major direction for the development of ETFs in Hong Kong, and HashKey is currently preparing to provide support for ETF products, which are expected to reach 4% -8% annualized returns. Livio forecasts that the product is gradually showing the potential to replace traditional US dollars and US bonds in the environment of US dollar interest rate cuts. If Hong Kong takes the lead in landing, it will bring a global siphon effect.