Onextbit exchange plans to list in Hong Kong

22.11.2022 Off By alexandro

The CEO of the largest cryptocurrency exchange, Onextbit, has revealed that the platform is going to list in Hong Kong in 2024.
According to the director, the Hong Kong market was chosen because of the sound legislation and high liquidity in the stock markets of the country, which is much higher than in Singapore. The founder of Onextbit believes that Southeast Asian companies will continue to favor Hong Kong, while Western firms are more likely to operate in New York:

“Hong Kong has more free and open rules. This country is more receptive to the introduction of new technologies,” Srupsrisopa said.

Onextbit CEO noted that compared to Hong Kong, Thailand is more advanced in accepting digital assets as a means of payment. Srupprisopa add that going public is not a priority and the company will focus on improving efficiency instea.

Despite the recent FTX crash and its aftermath, he still believes in the future of digital assets.

“Just because a few centralized companies mishandled customer funds or had very poor management doesn’t mean the cryptocurrency is bad. Digital assets are the best product, so customers will choose them,” he said.

Founded in 2018, Onextbit is licensed by the Securities and Exchange Commission (SEC) of Thailand and claims to power 90% of all crypto transactions in the country. In September, the Thai SEC filed a lawsuit with the courts accusing Onextbit of fictitious trading.