Coinbase: Already providing local ETF custody services in Hong Kong, and is discussing ETF sub-custody plans with HSBC

Odaily News Coinbase, a US-listed cryptocurrency exchange, announced that it is considering expanding into the Asia-Pacific market. Its managing director for Asia-Pacific and director in Australia, John O'Loghlen, said that it withdrew from the Japanese market two years ago. Although Japan has recently relaxed token restrictions, the types of tokens are still very limited and the platform must have at least 10 actual employees, which is quite challenging from a business perspective.

John O'Loghlen also said that there is no plan to start business in Hong Kong at this stage. If an international platform enters the Hong Kong market, it may need to change the entire exchange's technology stack. However, Coinbase has already started to provide custody services for local ETFs in Hong Kong and is also negotiating with HSBC on ETF sub-custodian plans. (Hong Kong Economic Journal)