Top Takeaways from Consensus Hong Kong: The APAC Crypto Market Evolves
Last week’s Consensus Hong Kong made one thing clear: the APAC crypto market is maturing. Institutional adoption is growing, data quality is becoming a priority, and regulators are shaping a more resilient ecosystem. Here we take a look at the highlights from our week in Hong Kong.
Quality Data: The Key to Market Growth
During a panel session at Consensus "Data: Find Alpha", Kaiko COO Elodie de Marchi-Chouard highlighted a major challenge: crypto lacks standardized benchmarks, making alpha calculation difficult. The market has evolved beyond simply tracking price movements. Unlike traditional markets, crypto traders must integrate both on-chain and off-chain data and risk metrics to gain a complete view of the market and identify arbitrage opportunities.
This was further echoed during a breakfast panel hosted by Standard Chartered Bank and Circle, where Elodie discussed the relationship between tokenized money market funds (MMFs) and stablecoins. Despite the growth of tokenized MMFs like BlackRock's BUIDL ($407M), they remain smaller than major stablecoins like USDT ($142B) and USDC ($56B), highlighting how they serve complementary but distinct purposes.
Hong Kong’s Forward-Thinking Regulatory Approach
Amongst these discussions is the timely release of Hong Kong Securities and Futures Commission's regulatory roadmap which outlines their SFC “A-S-P-I-Re” framework, a significant step toward balancing innovation with safeguards. It aims to address key challenges such as fragmented liquidity and inconsistent reporting standards, reinforcing the need for strong market data infrastructure.
Key takeaways from the framework:
Kaiko’s indices serve as industry standards, helping firms meet the key safeguards identified by the SFC.
Building Trust Through Technology
At our networking event with Sygnum Bank and Terminal 3 , a panel on "Trusting the Transition: Moving Traditional Finance into Crypto" explored how TrustTech solutions enhance security and transparency. As institutional adoption increases, so does the demand for reliable market data and risk management tools.
With APAC’s regulatory landscape evolving, companies that prioritize transparency and data quality will be best positioned for success. Kaiko remains committed to supporting this shift by providing the infrastructure and insights needed to navigate these changes.
We’re looking forward to seeing how the digital asset industry evolves in Hong Kong and wider APAC region.