Coinbase: Has provided local ETF custody services in Hong Kong and is discussing ETF sub-custody plans with HSBC

2025-03-03 12:48:34

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ChainCatcher news, according to a report by Jinbao, the US-listed cryptocurrency exchange Coinbase announced that it is considering expanding into the Asia-Pacific market. Its Managing Director for the Asia-Pacific region and Director based in Australia, John O'Loghlen, stated that after exiting the Japanese market two years ago, although Japan has recently relaxed token restrictions, the variety of tokens remains very limited and platforms must have at least 10 actual employees, which poses significant challenges from a business perspective.

John O'Loghlen also mentioned that there are currently no plans to operate in Hong Kong. If an international platform enters the Hong Kong market, it may require changing the entire tech stack of the exchange. However, Coinbase has already begun providing custody services for local ETFs in Hong Kong and is in discussions with HSBC regarding a sub-custodian plan for ETFs.

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