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Hong Kong Exchanges and Clearing Limited (HKEX) announced that it will launch a blockchain-based payment platform. In its announcement, the Hong Kong Stock Exchange HKEX will launch a payment platform called Synapse. Thus, It aims to increase efficiency and reliability in clearing transactions. Furthermore, the platform will launch on October 9. Besides, HKEX is planning the platform to be integrated into the Stock Connect. As it is known Stock Connect is a HKEX channel that allows investors to access approximately 1,000 Chinese stocks.
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HKEX Synapse will provide real-time visibility and information delivery capability for all market participants by eliminating sequential processes.
Glenda So (HKEX Group FIC President) has announced
HKEX Group Emerging Business and FIC President Glenda So said, “We are pleasure to launch HKEX Synapse, a significant upgrade to our Stock Connect infrastructure, which will support the next phase of growth for international participation in China’s mainland stock markets. Additionally, this technology-powered platform will not only increase post-trade efficiency but will also create a stronger, better ecosystem by supporting both market growth and investor growth strategies over time. We are very proud to introduce Synapse to our market and look forward to continuing to adopt new technologies that will benefit our markets and customers in the future.”
The Hong Kong Stock Exchange had licensed many crypto companies to be able to operate in Hong Kong. HashKey and OSL companies received the most recent licenses. OKX had announced that it was about to get a Hong Kong virtual asset service provider license ( VASP). Hong Kong-based CMCC Global raised 100 million US dollars for the Titan Fund, a new fund aimed at supporting Asian blockchain start-ups. This shows us that the crypto sector in Hong Kong is growing rapidly.
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