The most important inventory alternate 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 should launch its personal “Digital Asset Index Sequence” on November 15.
The index will purpose 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 world exchanges.
In accordance with HKEX, the index shall 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 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 growth of the digital asset ecosystem and consolidating Hong Kong’s place as a global monetary heart.”
Hong Kong regulators are presently within the strategy of finalizing licensing for practically a dozen totally different crypto exchanges, together with Crypto.com and Bullish.
Bloomberg reported earlier this yr that solely licensed platforms, or these deemed to be licensed, shall be allowed to function in Hong Kong. Precise permits will finally be issued by the SFC to digital asset buying and selling platforms that display constant compliance.
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