Shanghai firm eyes Web 3.0 opportunities and expansion

Zhu Shenshen
Shanghai-based Huifu has formed new blockchain services catering to a number of digital industries from culture and art, to game and metaverse tech, with a new digital ecosystem.
Zhu Shenshen

Shanghai-based Huifu released new blockchain services targeting digital consumption, cross-border payment, metaverse and other Web 3.0 applications.

It fits well with Shanghai's strategy to establish a global digital hub and an international finance center in the future. The city has published blueprints to support developing AI, cloud and metaverse innovation.

Facing new opportunities with industrial policies and technological changes, Huifu is accelerating exploration in three new tracks – industrial digitalization, cross-border payment and Web3.0, said Tang Wei, Huifu's assistant president.

The new scenarios, like AI and metaverse, make payment a necessary "digital infrastructure," Tang said in a conference held in a virtual hall in the metaverse world.

Shanghai firm eyes Web 3.0 opportunities and expansion
Zhu Shenshen / SHINE

A metaverse-style online conference is held.

Web 3.0, dubbed as "future Internet infrastructure" after Web 2.0, is becoming more practical in China with a complete ecosystem. The blockchain-based Web 3.0, used in popular applications like Non-Fungible Rights or NFRs and the metaverse, may make the Internet world more fair and create opportunities in the virtual realm, experts said.

The Web 3.0 is a key trend and innovation in FinTech sector in China, speakers also told the 2023 Zhongguancun Forum recently.

The blockchain-based payment service will be used in exchanges, culture and art, game and metaverse sectors to establish a new ecosystem, said Huifu.

Huifu, now with 10 million enterprise users, is upgrading digital global payment services, with more destination markets and a richer variety of currencies, the company said previously.

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