The post HKEX Makes Bold Move with New Crypto Index Series appeared first on Coinpedia Fintech News
HKEX just took a bold step toward making Hong Kong a central player in the crypto market. By launching its own Virtual Asset Index Series, HKEX is laying down a strong foundation for transparent, real-time tracking of Bitcoin and Ether prices. And it’s not just a small local push—this launch is set to impact how Asia trades and views digital assets. Set for November 15, this index might be the thing that makes Hong Kong stand out in the crypto space.
Why This New Index Series Is a Game-Changer
So, What’s special about HKEX’s new index? To start, it gives investors real-time, volume-weighted prices, focused specifically on the Asian time zone. HKEX designed two main tools for this: the Reference Index and the Reference Rate. The Reference Index tracks prices 24/7. Meanwhile, the Reference Rate gives a daily snapshot, set every day at 4:00 pm in Hong Kong. This setup means prices aren’t just reliable—they’re also precise, addressing one of the biggest issues in global crypto pricing. Additionally, Hong Kong has launched its first BMR-compliant virtual asset index, adding credibility for investors cautious of the usual crypto market fluctuations.
Teaming Up with CCData for Accuracy
To bring this to reality the HKEX teamed up with CCData ; a UK based data group acquired by CoinDesk recently. CCData will handle the calculations and real time data updates. The group is known for their solid methodology. With this partnership, the new index could provide high grade transparency to investors.
/1 We are proud to be appointed as the calculation and administering agent for the HKEX Virtual Asset Index Series.
This includes:
HKEX Bitcoin and Ether Reference Indices
— CCData (@CCData_io) October 28, 2024
Through this partnership, HKEX’s data will come from top-rated exchanges. This adds an extra layer of trust to their Bitcoin and Ether prices. CCData shared their excitement of this partnership via an X post. They’re promising top-notch data specifically crafted for Asia’s market.
What’s Next for Hong Kong?
Hong Kong’s been serious about digital assets, and the HKEX index series is a huge step toward turning those goals into reality. It looks like the city is gearing up to be a digital asset leader, with the tools and credibility to support it. For investors, this means more options and better information, a big win for anyone interested in crypto in Asia. With the new index, HKEX is positioning itself as a super connector between East and West, and that could be a real game-changer.
