Hong Kong stock exchange launches crypto benchmark as demand for real-time data rises

Quick Summary:

The index will provide single, real-time and daily reference prices for Bitcoin and Ether in the Asian time zone.

It is also in line with Hong Kong’s push to further support and scale up the virtual asset market in the city.

Most cryptocurrency benchmarks, such as those from CoinDesk and CoinMarketCap, use Coordinated Universal Time to track the price and performance of cryptocurrencies, which are often also traded at different prices across global exchanges.As at 4.45pm Singapore time on Oct 28, for example, Bitcoin’s price was listed at US$68,268 on CoinMarketCap and US$68,303 on CoinDesk.

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Article Details

Category: EconomyBusiness

Markets: SingaporeHong Kong

Topics: Reference Asset Index Series Hkex Time Hong Exchanges Kong Real-time Virtual

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 19:20:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 702 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 23285028

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