Crypto Hub in Asia Is Shifting From Singapore To This Country!

Cryptocurrency market data provider kaiko, plans to move its Asian headquarters from Singapore to Hong Kong. He bases this decision on Hong Kong’s effort to become a global hub for the digital asset industry. Kaiko, crypto data ICE and Deutsche Boerse to organizations such as

Asia’s Crypto Center Moves From Singapore to Hong Kong

Chief Executive Officer Ambre Soubiran said in an interview Thursday that Hong Kong’s pro-crypto policy and its exit from Covid-related restrictions contributed to the Paris-based company’s decision.

Kaiko provides data to companies like Deutsche Boerse and the ICE Global Network.

“With all the recent changes and initiatives from Hong Kong regulators, we realized that this is clearly where we need to be, where capital will flow, and we see a lot of attraction when it comes to hedge funds, investors and asset managers,” Soubiran said.

Hong Kong is trying to develop crypto rules that will spur growth and protect investors, and is positioning itself for a recovery after a $2 trillion market crash, while trying to learn from bankruptcies like the FTX exchange.

The city plans to allow individual investors to trade larger tokens such as Bitcoin and Ethereum later this year.

A mandatory licensing system for stablecoins, a type of crypto token intended to have a fixed value, is planned to be implemented between 2023 and 2024.

Developments in Hong Kong contrast with the sharp crackdown on crypto in the US, where digital asset firms are also increasingly disconnected from the traditional banking sector after the collapse of three credit institutions.

*Not investment advice.