Singapore Pulls Ahead of Hong Kong in Race to Be Crypto Hub Both cities have tried to attract crypto firms to their shores Hong Kong authorities have been cautious handing out permits Singapore forged ahead with efforts to formulate a digital-assets hub in 2024, while rival financial center Hong Kong has struggled to gain traction. Singapore doled out 13 crypto licenses in 2024 to a range of crypto operators including top exchanges OKX and Upbit, as well as global heavyweights Anchorage, BitGo and GSR. That’s more than double the licenses awarded by the city-state the previous year. A similar licensing regime in Hong Kong has been slow to progress.
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Singapore Pulls Ahead of Hong Kong in Race to Be Crypto Hub

Both cities have tried to attract crypto firms to their shores Hong Kong authorities have been cautious handing out permits

Singapore forged ahead with efforts to formulate a digital-assets hub in 2024, while rival financial center Hong Kong has struggled to gain traction.

Singapore doled out 13 crypto licenses in 2024 to a range of crypto operators including top exchanges OKX and Upbit, as well as global heavyweights Anchorage, BitGo and GSR. That’s more than double the licenses awarded by the city-state the previous year. A similar licensing regime in Hong Kong has been slow to progress.