P2E project STEPN will move its headquarters to Hong Kong
- September 5, 2022
- 0
The head office of the STEPN project will be relocated to the Cyberport business park in Hong Kong’s South District. Jerry Huang, co-founder of the fitness app developer,
The head office of the STEPN project will be relocated to the Cyberport business park in Hong Kong’s South District. Jerry Huang, co-founder of the fitness app developer, confirmed this information in an interview with SCMP.
Cyberport is home to 1,800 startups, including Animoca Brands.
According to the top manager, the decision came after meeting with George Lam, the former head of the Cyberport business park, on creating conditions for the launch of Web3 projects in Hong Kong.
The publication reminded that many companies are trying to leave the metropolis against the backdrop of the strict covid restrictions imposed by the city authorities.
Sam Bankman-Fried, founder of FTX, cited strict quarantine measures as one of the reasons for moving FTX’s headquarters from Hong Kong to the Bahamas.
Another factor for a possible transition from financial center to SCMP was concern over the impact of mainland China, where cryptocurrencies are banned.
Recall that in May, STEPN announced the termination of the service for users from China.
Earlier, Chinese authorities searched for NFTs and reversed potential financial pyramids.
In the second quarter of 2022, STEPN generated $122.5 million in app usage fees.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
