This initiative by STEPN will help promote the Web3 startup environment in the bustling city of Hong Kong.
STEPN is building its next office in Hong Kong
Guess what, STEPN co-founder Jerry Huang has revealed that the company will be setting up a regional headquarters in Hong Kong’s Cyberport Business Park. The move comes after former Cyberport chairman George Lam personally convinced them to establish a Web3 base in the area.
“I was honored that he came to see me,” Wong said in a video interview during Cyberport’s Digital Entertainment Leadership Forum earlier this month.” We had dinner together and Dr. Lam warmly invited us to help create a Web3 startup environment together in Hong Kong. I felt very happy and encouraged.”
Wong told the South China Morning Post that the company will not force employees to relocate because many of them work remotely around the world. However, arrangements will be made for core team members who are interested in relocating to STEPN’s new office.
For those who don’t know, Cyberport is a government-backed startup gas pedal in Hong Kong’s Southern District. It describes itself as a digital technology community housing over 1,650 digital technology companies such as Microsoft, Lenovo, Animoca Brands and more.
Despite its flaws, STEPN is still one of the most popular programs to move to. Launched last December, the M2E application quickly gained traction in various countries, including the United States, Japan and China. However, the team had to ban users in mainland China in June to comply with local regulations.
Speaking of regulations, the situation in Hong Kong is not so rosy. The region has suffered a brain drain on several fronts since Beijing implemented its national security laws. But Huang still prefers Hong Kong for two reasons. One, it is the best blend of Western and Eastern cultures. Second, Hong Kong remains, by far, one of the leading financial centers.
It remains to be seen how STEPN’s expansion into Hong Kong will play out. Until then, it’s business as usual for the M2E app, which just turned 1 year old.
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