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FalconX Sets Sights on Hong Kong, Bolstering Position in the Institutional Digital Asset Space

This decision is driven by the territory's growing appetite for virtual assets, the rapid pace of Web 3.0 market developments, and a forward-thinking regulatory environment, the firm said.

Belle Leung, Commercial Lead, Hong Kong, FalconX (Image: Falcon X)

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In a strategic move to tap into the burgeoning demand for digital assets among institutional investors, FalconX, an institutional digital assets prime brokerage, has announced its expansion into Hong Kong.

FalconX's foray into Hong Kong marks a significant step in its global expansion strategy, following the establishment of its APAC headquarters in Singapore in June 2022. The brokerage firm is set to offer over-the-counter (OTC) brokerage and OTC virtual asset derivatives services tailored to the needs of professional investors there, including proprietary trading firms, family offices, and fund managers.

To spearhead this expansion, FalconX has appointed Belle Leung as the Commercial Lead in Hong Kong. Leung, who brings a wealth of experience from her previous role as head of SaaS sales for digital assets at OSL in Hong Kong, will focus on raising awareness of FalconX’s offerings within the city's rapidly expanding institutional Web 3.0 community, an announcement on Thursday said.

Matt Long, APAC General Manager of FalconX, highlighted Hong Kong's pivotal role in the virtual asset innovation landscape. "Hong Kong has historically been a hub for virtual asset innovation and continues to lead the market with a clear focus on Web 3.0,” Long stated. “FalconX’s expansion in the region underscores our commitment to global growth and our confidence in Hong Kong's progressive stance on virtual asset regulation and its leading position in the Web 3.0 ecosystem."

The move comes at a time when Hong Kong's regulators are actively shaping a conducive environment for virtual assets and related products, providing market certainty and fostering innovation.

Hong Kong Sets New Standards for Digital Asset Custody
The guidelines align Hong Kong’s regulatory framework with international best practices, positioning the region as a leading global center for digital asset innovation and investment.

Leung expressed enthusiasm for the regulatory landscape, noting, "Hong Kong’s regulators have taken a proactive approach to their regulated entities’ participation in virtual assets and virtual asset-related products. This has generated strong market certainty, which we value and support."

Last month, FalconX announced the strategic expansion of its Asia Pacific operations with the appointment of Ivan Lim as Trading Manager, APAC derivatives, based out of the firm’s Singapore office.