The most important inventory alternate in Hong Kong has introduced that it’ll launch a brand new crypto index to satisfy the rising demand for digital property.
In a brand new announcement, Hong Kong Exchanges and Clearing Restricted (HKEX) says it is going to launch its personal “Digital Asset Index Collection” on November 15.
The index will intention to supply a dependable benchmark for the pricing of Bitcoin (BTC) and Ethereum (ETH) within the Asian time zone whereas fixing the worth variations between the totally different international exchanges.
In keeping with HKEX, the index might be primarily based on a 24-hour volume-weighted US greenback spot value 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 Collection to satisfy regional demand for this quickly rising asset class. By offering a clear and dependable real-time benchmark, we hope Traders could make knowledgeable funding choices, 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 presently within the technique of finalizing licensing for almost a dozen totally 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, 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 exhibit constant compliance.
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