MyEG’s Zetrix, Web3Labs, And Summer Capital To Advance HK’s Web3 Initiatives

MyEG Services Bhd’s (MyEG) Zetrix, Web2Labs Hong Kong and Summer Capital are teaming up to to advance Hong Kong’s Web3 initiatives.

In a Bursa filing today (Jan 22), MYEG said the goal is to establish Zetrix as the preferred blockchain infrastructure for HK government-aligned applications.

“Zetrix expands its current mission of government and enterprise-focused Web3 development in alignment with HK’s Fintech Promotion Roadmap, in addition to significant partnerships announced with key stakeholders in China, Malaysia and the Philippines,” MyEG said.

Blockchain strategy and technology company Web3Labs leverages its network of over 500 partners throughout the Web3 ecosystem including government bodies, institutions, investors, exchanges and media outlets to foster additional growth and innovation facilitated by the city state.

Meanwhile, Summer Capital, a venture capital investment firm based in Amsterdam, counts several market-leading startups within their portfolio, including Asia’s leading licensed virtual asset service provider Hashkey Group, and SEBA Bank, which received approval-in-principle licenses from the Securities and Futures Commission to offer virtual asset services in HK.

The key objectives of this collaboration among others is to enhance Zetrix as the preferred Layer-1 platform for blockchain applications aligned with the HK’s government’s Web3 vision and catalysed by further collaborations with industry and business communities.

Simultaneously, the partners plans to launch a dedicated Global Accelerator Program to incubate and nurture promising startups building applications on the Zetrix platform.

“This program will provide mentorship, technical support, and access to funding opportunities, empowering budding entrepreneurs to contribute to HK’s Web3 landscape and serve a global audience.”

MyEG said the collaboration also planned to catalyse HK’s and the region’s financial systems and players to realise structured and concurrent industry trails of innovative blockchain use such as Real World Asset (RWA) and stablecoin issuance.

“Zetrix is also assessing strategic investment in Web3Labs, gaining access to its extensive network of Web3 experts and ecosystem partners.

“Such a move will further bolster Web3Labs’ ability to support promising Global Web3 startups via HK’s progressive Virtual Assets regulations,” it added.

Zetrix co-founder Wong Thean Soon said it is thrilled to partner with Web3Labs, a trusted leader in the Web3 space.

“This collaboration will add immense value to Zetrix and provide invaluable support to the burgeoning Web3 ecosystem with key stakeholders in HK.

“Zetrix and its international supernode on China’s national public blockchain, Xinghuo BIF is the natural choice for Web3 decentralised applications (DApps) that serve the objectives of HK Special Administrative Region (SAR) to be a global crypto hub,” he said.

Echoing Wong’s sentiment, Web3Labs chief executive officer Caspar Wong said it is excited to welcome Zetrix as a strategic partner.

“Their commitment to aligning with the HK vision and fostering innovation makes them the perfect platform for building impactful Web3 solutions.

“By combining our capabilities and focusing on government and enterprise-aligned applications, both parties aim to foster a thriving Web3 ecosystem that benefits businesses, government entities, and citizens alike.”

Summer Capital Fintech and Blockchain head Henry Chen said the firm is glad to connect and join forces with Web3Labs and Zetrix to build an enterprise-grade ecosystem on blockchain infrastructure in HK.

“We have observed tremendous progress and business development for Web3 here in HK for the past few years. Bringing Zetrix to HK marks our strong commitment to embracing the market and its opportunities,” Chen said.

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