Hong Kong grants licences to four cryptocurrency exchanges

Hong Kong’s Securities and Futures Commission granted licences on Wednesday to four cryptocurrency exchanges—Accumulus GBA Technology, DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology—bringing the total number of licensed platforms in the city to seven.

This move highlights Hong Kong’s ambition to establish itself as a leading global hub for digital assets, competing with other major financial centres like Singapore and Dubai. The approvals follow the city’s launch of Asia’s first spot bitcoin and Ether ETFs in April, aimed at enhancing market appeal and reducing ETF management fees.

Bitcoin, buoyed by market optimism, recently surged to over $107,000, marking a new record high.

Attribution: Reuters

Subediting: Y.Yasser