Tencent, a social and gaming giant, hosted its first global web3 summit in Singapore, which has become a refuge for Chinese blockchain developers after Beijing cracked down on cryptocurrencies in 2021. The event comes after Hong Kong announced plans to let retail investors trade Ether and Bitcoin starting in June, suggesting that China may have softened its stance on cryptocurrencies. Tencent is now joining the race with cloud providers like AWS to attract web3 developers, signing a Memorandum of Understanding with Ankr to jointly develop a suite of blockchain API services. They have also partnered with Avalanche, Scroll, and Sui to support web3 infrastructure. This is great news for Chinese web3 developers who want to stay closer to home.
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