• Sat. Apr 20th, 2024

FalconX announces expansion into Hong Kong

  • Digital assets brokerage FalconX announces expansion into Hong Kong.
  • The platform expanded its services to Singapore in 2023 as it sought to grow its presence in the APAC.
  • FalconX recently partnered with TC ICAP’s Fusion Digital Assets.

The team as FalconX, a digital-assets prime brokerage for institutions, has revealed that it is expanding its cryptocurrency services and products to Hong Kong. FalconX shared the news via a post on its X account.

Hong Kong’s growing as a crypto hub

FalconX announced that the expansion plans come amid rising demand from global institutions for an efficient, safe and regulated exposure to the crypto asset class. The platform shared its plans via an announcement on Thursday.

It noted that the goal is to extend its over-the-counter (OTC) brokerage and crypto derivatives products to institutional investors. These include fund managers, proprietary trading firms and family offices among other professional investors.

Hong Kong continues to grow into a leading crypto innovation hub, FalconX general manager for Asia Pacific region Matt Long said. His firm’s move into the region will see its position as Hong Kong brings further regulatory clarity, with Web3 set to benefit.

FalconX is looking to make inroads in the Hong Kong market after its entry into Singapore in February 2023.

In January this year, FalconX inked a strategic partnership with Fusion Digital Assets, an FCA-registered spot crypto asset exchange of the London-based financial services firm TC ICAP.

According to a press release published on January 31, FalconX said the integration would bring competitive pricing and liquidity to its platform.

The post FalconX announces expansion into Hong Kong appeared first on CoinJournal.