24-4-2025 – Hong Kong has cemented its status as a global powerhouse for cryptocurrency, clinching the title of the world’s second-most crypto-friendly city in the 2025 Crypto Report by Multipolitan, a Singapore-based migration platform. Trailing only Ljubljana, the Slovenian capital, in the Crypto Friendly Cities Index, Hong Kong shines as a beacon of innovation, wealth, and talent in the digital asset realm, driven by its robust regulatory framework, cutting-edge infrastructure, and widespread crypto adoption.
The index, a meticulous appraisal of cities worldwide, weighs factors such as regulatory transparency, tax policies, digital connectivity, and the embrace of cryptocurrency. Ljubljana, with its trailblazing adoption of blockchain and a vibrant ecosystem where hundreds of businesses accept crypto payments, secured the top spot. Zurich, Singapore, and Abu Dhabi followed Hong Kong, rounding out the leading pack.
A surge in crypto wealth underscores Hong Kong’s allure, with the city ranking third globally for the concentration of digital assets. The average crypto holder in Hong Kong commands $97,500 in digital wealth, trailing Slovenia’s $240,500 and Cyprus’s $175,000. This concentration has drawn high-net-worth “whales” to jurisdictions like Dubai, where the Golden Visa programme offers a decade-long residency for investments exceeding $544,500, reflecting a broader trend of crypto investors seeking tax-neutral havens.
Nirbhay Handa, Multipolitan’s CEO and co-founder, observed a seismic shift in global mobility. “People are gravitating towards jurisdictions that resonate with their digital-first lifestyles,” he said, noting that tokenised assets and decentralised governance are redefining societal structures. Launched in 2024, Multipolitan is dedicated to easing the global movement of digital asset holders, spotlighting Hong Kong’s strides since 2022 in crafting a comprehensive virtual asset regulatory regime.
Hong Kong’s Securities and Futures Commission has greenlit 10 crypto trading platforms, including Bullish, bolstering the city’s credentials as a crypto hub. The city’s vibrancy was further amplified by high-profile industry events, such as the expansion of CoinDesk’s Consensus conference and visits from luminaries like Binance co-founder Changpeng Zhao, Tron’s Justin Sun, and Ethereum’s Vitalik Buterin.
The crypto boom has also reverberated through Hong Kong’s property market, with crypto and hedge fund professionals propping up a residential rental sector strained by tepid traditional demand. In the first quarter of 2025, leasing activity clustered in Kowloon and lower rental tiers, even as expatriates trickled back from Singapore. This influx of crypto wealth and talent is reshaping the city’s economic landscape.
Looking ahead, Financial Secretary Paul Chan, speaking at the Hong Kong Web3 Festival, announced plans for a detailed virtual asset policy framework by year’s end. This forthcoming blueprint will build on earlier commitments, aiming to harness Web3 technologies to revolutionise traditional financial services.