Hong Kong Startups Seek Crypto Assets: SCMP


An increasing number of start-ups in Hong Kong are offering cryptocurrency-lending services, claiming to provide high returns, the South China Morning Post reported.

Cryptocurrency exchange Gemini last week rolled out a programme that enables customers to receive an annualised yield of up to 8.05% by lending out their digital tokens to third parties. A one-month US dollar deposit at a Hong Kong bank yields 0.01%.

The service supports deposits of more than 40 cryptocurrencies, including stablecoins, or digital tokens, that are backed typically by the US dollar.

Read the full report: South China Morning Post.




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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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