Hong Kong Crypto Exchanges Getting Bid Up!

With tension between China and Hong Kong still very high it is interesting to see that the crypto space in Hong Kong is still thriving. As of this weekend another Hong Kong based crypto exchange got a $100 million in investment making it a $1 billion company in evaluation. The company is called Amber.

With over $500 million in revenue the exchange has in 2021 to date and has a total of over $1.5 billion in assets under its exchange. Better yet the company since inception in 2017 has always been profitable every year and there is no sign for it to slow down.

In addition another Hong Kong crypto exchange last month was successful in collecting $40 million in investment called Babel Finance. These investments in both Amber and Babel Finance are from institutional money hence very rich and well off investors. With that note it should be clear that current crypto prices have not slow down the investing into the space. In fact it is booming and in Hong Kong it is quite literally booming.

There is no definitive answer if these investments will bring fruit in the future but since these investments are institutional money I would have to believe the investors did their homework and see the potential in these investments. I am well aware of the popular crypto exchange Kucoin that resides in Hong Kong so it is not a surprise that more are blossoming. Personally I will be digging deeper in the platform of Amber to see what it has to offer compare to the most popular ones out there such as Binance and Coinbase.

In addition it is worth mentioning since Hong Kong is still technically independent I would presume the restrictions or so call bans in crypto in mainland would not be the same in Hong Kong. This may lead to bigger and more crypto business to Hong Kong.

Let us all keep hodling our cryptos for better days ahead. Thanks for reading.