The biggest inventory trade in Hong Kong has introduced that it’ll launch a brand new crypto index to satisfy the growing demand for digital property.
In a brand new announcement, Hong Kong Exchanges and Clearing Restricted (HKEX) says it would launch its personal “Digital Asset Index Collection” on November 15.
The index will intention to offer a dependable benchmark for the pricing of Bitcoin (BTC) and Ethereum (ETH) within the Asian time zone whereas fixing the value variations between the completely different world exchanges.
In line with HKEX, the index can be primarily based on a 24-hour volume-weighted US greenback spot worth of BTC and ETH utilizing realtime information from main crypto exchanges.
Says Peter Chan, Chief Govt 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 selections, thereby supporting the wholesome improvement of the digital asset ecosystem and consolidating Hong Kong’s place as a global monetary heart.”
Hong Kong regulators are at the moment 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, can be allowed to function in Hong Kong. Precise permits will ultimately be issued by the SFC to digital asset buying and selling platforms that reveal constant compliance.
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