October 5, 2018 — The STIPS|FinTech project has recently announced its new representative office’s establishment in Hong Kong attempting to cater to the Asian market. The team of STIPS|FinTech, a British FinTech startup, is developing a single platform in order to gather and analyze data, publish market news and exchange rates, provide relative information for any token, and help investors make better-informed decisions.

The bulk amount of information piled up every day on the Internet makes it difficult even for seasoned traders to track the performance of hundreds of new cryptocurrencies created over the time. Not a word for the ability to take better trading positions in advance. Problems like the above mentioned come the STIPS | FinTech platform to solve.

Its competitive product is a decentralized crypto-finance ecosystem to facilitate smart investing and asset management by making information on market dynamics simple and accessible. Additionally, it offers reliable and convenient instruments to investors for conducting their operations. STIPS is developed on EOS — the leading Chinese blockchain network based on flexibility, security, convenience and trust. The main advantage of EOS system is an absence of transactions fees — the only requirement is holding EOS tokens which guarantees access to the respective percentage of computational performance and network storage.

Opening a representative office in Hong Kong is a well-designed decision by the team, as Hong Kong is considered today one of the most attractive places for Blockchain organizations and cryptocurrency startups from around the world.

“For us, this is a strategic point where not only our potential partners — exchanges, banks, investment companies, venture funds, but also potential customers of the STIPS|Oculus platform — active traders and investors gather together. The representation in Hong Kong will allow to develop close cooperation with the local fintech and to build business contacts in an active business environment,” as stated by STIPS|FinTech CEO and CFA Kotegov Dmitry.

Already since September 2017, the government of Hong Kong has been demonstrating its continuous support for Blockchain industry, outlining its considerably more positive position towards crypto in comparison to mainland China.

“The major advantage of Hong Kong is its beneficial tax structure, both for individuals, businesses and investment activities. A key aspect of Hong Kong’s taxation structure is that only activities or investments within the city are taxable by law, currently at the rate of 16.5% of profits. There are also neither sales, VAT, inheritance, withholding, capital gains tax, nor the territorial principle for tax in Hong Kong, which means no worldwide tax on income from abroad”, Kotegov said. “Any activities outside of Hong Kong would not create assessable profits in regards to Hong Kong. The Hong Kong government has even encouraged the education and use of cryptocurrency, with a press release in January 2018 from The Financial Services and Treasury Bureau (FSTB) and The Investor Education Centre (IEC). In the press release, they outline the features, information and potential risks of ICOs and cryptocurrency for the public”.

This big and bold step of STIPS|FinTech will launch a new era for both the company and the whole business industry as such a promising firm opens its wings and supports the enlargement of Blockchain community in Hong Kong.