HONG KONG – February 20 , 2025 – PayFi Unveiled, a side event of Consensus 2025, brought together leading figures from traditional finance (TradFi), Web3, regulators, and technology innovation to discuss the development of the digital finance sector. The event was hosted by Upay and co-organized by JunHe LLP, GlobalZ, ApacX and strategic partner 2Square Capital to discuss in-depth discussions on crypto payments, regulatory frameworks, and differences in compliance requirements between different jurisdictions.
As Hong Kong seeks to be at the heart of global Web3 development, PayFi Unveiled provides an opportunity to jointly analyze the future regulatory framework, infrastructure development and adoption strategies that will shape the PayFi ecosystem. The event focuses on the intersection of policy and innovation, providing expert-led discussions, insights into compliance trends, and exploring scalable infrastructure that drives PayFi adoption.
PayFi has undoubtedly become one of the core topics of Consensus 2025, and multiple side events have carried out in-depth discussions on this topic from different angles. Unlike discussions focusing on on-chain technology and theoretical use cases, this event focused on products that have been widely used in the industry and provided valuable insights on legal issues, compliance challenges, and feasible solutions.
The conference explored the future trends of PayFi regulatory policies and how companies can proactively respond to this changing environment. An in-depth analysis of Hong Kong's licensing system focused on how to strike a balance between high compliance costs and the survival of startups. Experts from Jun He Lawyers and GlobalZ provided valuable advice on how to deal with these challenges, and Upay and ApacX also shared their respective operating strategies. In addition, the global compliance landscape was analyzed, focusing on payment licenses in key regions and potential risks associated with stablecoin applications.
Upay CEO Owen outlined the legal framework under which the company operates and discussed the PayFi solutions they plan to provide, including improving the accessibility of existing card payment solutions and making them more adaptable to the blockchain's payment ecosystem.
Simon from ApacX made an in-depth analysis of how the integration of crypto and traditional financial payment systems will affect competition within the payment industry, especially the competitive landscape between traditional financial companies and Web3 payment companies. The entry of traditional financial institutions into the PayFi space has brought both opportunities and challenges to existing Web3 payment startups.
Jacquline from JunHe shared the differences in regulatory environments between Europe, Hong Kong, and Singapore. She suggested that startups conducting crypto business should not only pay attention to cryptocurrency-related regulations, but also refer to the existing regulatory framework in their planning.
The future of PayFi : a collaborative ecosystem
As a bridge between policy and innovation, PayFi Unveiled is at the forefront of discussions shaping the future of PayFi. The event provides a valuable opportunity for professionals in the finance and technology sectors to engage in forward-looking conversations, gain actionable insights, and expand their networks.
Join us at PayFi Unveiled as we witness the convergence of regulation, infrastructure and applications to shape the future of digital finance.
About Upay :
Founded in 2023, UPay is a leading fintech company committed to building a global digital asset banking platform. We provide a full range of services including credit card payments, global remittances, mortgages and wealth management. Our mission is to bridge the gap between digital assets and traditional finance and promote the global development and application of the digital economy.
Upay focuses on compliance, security and convenience, and has obtained operating licenses in multiple jurisdictions, including Hong Kong, the UAE, Lithuania and the United States. Our services support multiple cryptocurrencies, and users can use crypto assets for loans, card payments and global remittances. We are committed to providing fast, secure and flexible financial services, and ensure full compliance with the highest international standards.
For more information, visit www.upay.com or follow us on Twitter.
