The arrival of one of the biggest Web3 industry events in Hong Kong is testing the city’s resolve in becoming a virtual asset hub, while the organisers look to expand their footprint in Asia.

Consensus Hong Kong, a three-day cryptocurrency- and blockchain-focused event that kicks off on Tuesday, is leaning heavily into the city’s reputation as a traditional financial hub.

“Naturally, we know our strength, and that is capital markets,” said King Leung, global head of financial services, fintech and sustainability at InvestHK.

Michael Lau, chairman of…