Tony Lu, founder of ASX Global’s AUXSTO, recently spoke at the Hong Kong Web3 Festival 2023, outlining the company’s plans to enter the Hong Kong cryptocurrency market.
Lu highlighted several key points in his speech, emphasizing the success of cryptocurrency regulation in Australia, the potential for complementary opportunities in Hong Kong’s local market, the importance of cryptocurrency licenses coming in the second half of the year, and the positive impact of cryptocurrencies in the overall digital economy Trading.
ASX Global actively participates in the application for a cryptocurrency trading license in Hong Kong, and regards it as a long-term strategic direction to penetrate the Southeast Asian market.
Lu began his speech by highlighting the success of cryptocurrency regulation in Australia. He noted that Australia has accumulated extensive experience in regulating crypto assets, contributing to the growth and development of the industry in the country. With its strong regulatory framework and supportive environment, Australia has become a global leader in cryptocurrency trading.
Hong Kong can learn from this experience, Lu stressed, as the two markets share similarities in regulatory requirements and business practices, creating opportunities for mutual benefit.
Additionally, Lu emphasized the importance of the imminent issuance of cryptocurrency licenses in Hong Kong. He noted that the issuance of cryptocurrency trading licenses in the second half of the year will be a milestone for the industry as it will provide a clear regulatory framework and legal certainty for cryptocurrency exchanges and other related businesses.
The move is expected to boost investor confidence and attract more institutional investors and professional traders to the Hong Kong market, further boosting the development of the cryptocurrency industry in the region.
Lu also highlighted the positive impact of cryptocurrency trading on the overall digital economy. He noted that the cryptocurrency market has become a key driver of the digital economy, creating new opportunities for technological innovation, investment and financial services. Cryptocurrency transactions have the potential to stimulate economic growth, create jobs and promote financial inclusion.
Lu emphasized the importance of cryptocurrency trading as a legitimate and regulated financial activity, and the need for industry players to work closely with regulators to create a healthy and sustainable market environment.
As part of its strategic plan, ASX Global’s AUXSTO aims to actively participate in the application process for a cryptocurrency trading license in Hong Kong.
Lu said that Hong Kong’s strategic location, well-established financial infrastructure, and growing demand for cryptocurrency investments provide an ideal environment for ASX Global to expand its business and enter the Southeast Asian market.
The company sees Hong Kong as an important gateway to tap the huge potential of the region’s cryptocurrency market, and aims to establish a long-term business to meet the needs of investors and traders in the region.
Tony Lu’s presentation at Web3 Hong Kong 2023 highlighted ASX Global’s plans to enter the Hong Kong cryptocurrency market. The company sees the success of cryptocurrency regulation in Australia, the imminent launch of cryptocurrency licensing in Hong Kong, and the positive impact of cryptocurrency trading on the digital economy as key drivers of its strategic direction.