The most important inventory change in Hong Kong has introduced that it’s going to launch a brand new crypto index to satisfy the growing demand for digital belongings.
In a brand new announcement, Hong Kong Exchanges and Clearing Restricted (HKEX) says it would launch its personal “Digital Asset Index Sequence” on November 15.
The index will goal to offer a dependable benchmark for the pricing of Bitcoin (BTC) and Ethereum (ETH) within the Asian time zone whereas fixing the worth variations between the completely different international exchanges.
In response to HKEX, the index might be based mostly on a 24-hour volume-weighted US greenback spot value of BTC and ETH utilizing realtime information from main crypto exchanges.
Says Peter Chan, Chief Government of HKEX Group,
“We’re happy to launch the HKEX Digital Asset Index Sequence to satisfy regional demand for this quickly rising asset class. By offering a clear and dependable real-time benchmark, we hope Buyers could make knowledgeable funding choices, thereby supporting the wholesome improvement of the digital asset ecosystem and consolidating Hong Kong’s place as a global monetary middle.”
Hong Kong regulators are presently within the technique of finalizing licensing for practically a dozen completely different crypto exchanges, together with Crypto.com and Bullish.
Bloomberg reported earlier this yr that solely licensed platforms, or these deemed to be licensed, might be allowed to function in Hong Kong. Precise permits will finally be issued by the SFC to digital asset buying and selling platforms that reveal constant compliance.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Test Price Action
Observe us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl are usually not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses you could incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please word that The Every day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney
