The Hong Kong Exchange (HKEX) Tuesday revealed plans to launch “Diamond,” a trading platform to pilot digital assets in 2022.
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- Diamond is placing its initial focus on product offerings related to environmental, social and government values.
- HKEX has not specified the inclusion of cryptocurrencies in its upcoming pilot.
- Diamond will be powered by emerging technologies including blockchain, smart contracts and cloud computing.
- HKEX is the third-largest stock exchange in Asia by market capitalization, and Hong Kong was the fourth most popular market for initial public offerings in 2021, a slip from the top three due to China’s clampdown on tech firms, according to KPMG.
- China’s tech companies are expected to set up bases in Hong Kong in 2022, as HKEX plans to strengthen its role as the bridge from the world to the mainland.
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