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Ben Caselin, Chief Marketing Officer of VALR, a Pantera-backed crypto exchange, delivered a keynote on the unique patterns of crypto adoption at the Foresight 2024 conference in Hong Kong on Sunday, August 11. In particular, Caselin focused on the contrasts between how crypto is seen in regions like Hong Kong compared to various countries across Africa, Asia, and Latin America.  Crypto adoption in Hong Kong While Hong Kong is known for cultural and financial innovation, being increasingly recognized for its role in driving Web3, emerging markets such as El Salvador and South Africa are developing their own cryptocurrency hubs. Picks for you Bitcoin Rainbow chart predicts BTC price for end of August 2024 22 mins ago Here’s when Bitc...

Bitcoin re serve s have recently become a key topic in global finance, with events in Hong Kong and the United States sparking much debate. Following former U.S. President Donald Trump’s support, a Hong Kong lawmaker’s plan to include Bitcoin in the region’s financial reserves has caught the eye of both the cryptocurrency community and traditional economic sectors. This article references data from the Crypto Markets Q3 2024 report by Coinbase Institutional and Glassnode. Also Read: Currency: Why Trump’s US Dollar Devaluation Plan Might Be A Bust? Bitcoin Reserves: Insights from Hong Kong and Trump Source: Canva Hong Kong’s Consideration of Bitcoin Reserves Hong Kong Legislative Council member Johnny Ng has promised to start talks about adding Bitcoin to the region’s financial reserves. Trump announced plans to establish a ‘strategic Bitcoin reserve’ if he wins re-election during his recent speech at the Bitcoin 2024 conference. Ng supports Bitcoin because...

Also Read: Bitcoin (BTC) Price Stalls as US Dollar Hits 8th Weekly Gain, Calls for Concern? advertisement In addition to the Hong Kong cause, the US dollar pegged stablecoin is being offered with zero trading fee on Binance . In the context of the uncertainty and regulatory concerns around stablecoins, FDUSD comes across as being backed by high-quality reserves in cash and cash equivalents. The Hong Kong Monetary Authority (HKMA) monitors the licensing and regulatory standards around the stablecoin operations. Binance Adds DOGE/FDUSD, XRP/FDUSD Trading Pairs Considering the growth potential of the stablecoin, this would be a welcome move from Binance . With a ranking of 215 among major cryptocurrencies, FDUSD currently has a market cap of $382 million as against Tether USDt’s (USDT) $83 billion. The crypto exchange said the following trading pairs will be open for trading on the platform from September 7, 2023: DOGE/FDUSD, SOL/FDUSD, TOMO/TRY, UNF...

Hong Kong has consistently been making it to the crypto news headlines lately. A couple of weeks back, it opened doors to its very first BTC exchange-traded funds [ETF]. Two ETFs tracking US listed crypto futures veered into Hong Kong. They’re reportedly managed by CSOP Asset Management. Additionally, in the beginning of this week, Financial Secretary Paul Chan said that Hong Kong will be a great place for crypto and fin-tech startups to operate from. He also asserted that the region remains committed to becoming a crypto hub.  Retail Trading Under Regulator’s Radar Another key development unravelled on Wednesday. According to the same, crypto tokens will reportedly be shortlisted by the securities watchdog for retail trading. Furthermore, the Securities and Futures Commission [ SFC ] will seek public views on certain regulatory aspects pertaining to Retail Trading . Julia Leung, Chief Executive Officer of the Securities and Futures Commission clarified that the...