STEPN to relocate headquarters to Cyberport, Hong Kong

The project’s STEPN headquarters will be moved to the Cyberport business park in the Southern District of Hong Kong. This information was confirmed in an interview with SCMP by Jerry Huang, co-founder of the fitness-app developer.

Cyberport is home to 1,800 startups, including Animoca Brands.

According to the executive, the decision arose after a discussion with former Cyberport chairman George Lam about creating conditions for launching Web3-projects in Hong Kong.

The publication noted that, amid strict Covid restrictions imposed by city authorities, many companies are seeking to leave the megacity.

FTX founder Сэм Бэнкман-Фрид called the strict quarantine measures one of the reasons for moving the exchange’s headquarters from Hong Kong to the Bahamas.

Another factor SCMP named was concerns about the influence of mainland China on the financial hub, where cryptocurrencies are banned.

In May, STEPN сообщил о прекращении обслуживания пользователей из КНР.

Earlier, NFT and metaverses потенциальными финансовыми пирамидами.

In the second quarter of 2022, STEPN получил прибыль в размере $122,5 млн за счет платы за использование приложения.

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