Kaiko Relocates to Hong Kong, Taking Advantage of Crypto-Friendly Policies
• Kaiko, a cryptocurrency market data provider based in Paris, is relocating its Asian headquarters from Singapore to Hong Kong for reasons such as the city’s pro-crypto policy pivot and emergence from Covid-related restrictions.
• Hong Kong is learning from past bankruptcies like the FTX exchange and allowing retail investors to trade larger tokens such as bitcoin (BTC) and ether (ETH), while also considering stricter rules following the FTX fallout.
• Kaiko wants to support the institutionalization, growth, and establishment of the digital asset class in the city.
Kaiko Relocates to Hong Kong
Kaiko, the cryptocurrency market data provider based in Paris, is set to relocate its Asian headquarters from Singapore to Hong Kong, driven by the latter’s efforts to cement itself as a global leader in the digital asset space.
Hong Kong’s Pro-Crypto Policy Pivot
The city’s pro-crypto policy pivot and emergence from Covid-related restrictions were also key factors that influenced the move Kaiko’s CEO Ambre Soubiran said in a Bloomberg interview on March 16. She believes Hong Kong’s recent regulatory changes and initiatives are clear indicators of the direction capital will flow making it an attractive destination for hedge funds, investors, and asset managers.
Crypto Industry Challenges
The crypto industry remains in a deep downturn after a bubble in token prices last year causing investors to flee. As a result several companies including Coinbase Global Crypto.com and Huobi slashed thousands of jobs. Others are waiting for a crypto recovery and Hong Kong’s revamped digital-asset rules before committing scarce investment funds.
Impact on Institutionalization & Growth
According to Soubiran, Hong Kong’s regulatory landscape is changing positively, and Kaiko wants to support the institutionalization growth and establishment of the digital asset class in the city.