The biggest inventory change in Hong Kong has introduced that it’ll launch a brand new crypto index to fulfill the rising demand for digital belongings.
In a brand new announcement, Hong Kong Exchanges and Clearing Restricted (HKEX) says it’s going to 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 shall be primarily based on a 24-hour volume-weighted US greenback spot worth of BTC and ETH utilizing realtime knowledge from main crypto exchanges.
Says Peter Chan, Chief Government of HKEX Group,
“We’re happy to launch the HKEX Digital Asset Index Sequence to fulfill regional demand for this quickly rising asset class. By offering a clear and dependable real-time benchmark, we hope Traders could make knowledgeable funding selections, thereby supporting the wholesome growth of the digital asset ecosystem and consolidating Hong Kong’s place as a global monetary heart.”
Hong Kong regulators are at present within the means of finalizing licensing for practically a dozen completely different crypto exchanges, together with Crypto.com and Bullish.
Bloomberg reported earlier this 12 months that solely licensed platforms, or these deemed to be licensed, shall be allowed to function in Hong Kong. Precise permits will ultimately be issued by the SFC to digital asset buying and selling platforms that show constant compliance.
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