Asia is an 'advanced player' in cryptocurrency, says Ledger CEO

hi good morning Martin and of course there's been a lot of development in uh crypto space in Hong Kong of course we had the ETF listings just last week Asia accounts for over 2third of bitcoin's trading volume that's according to reports making it the world's largest market for the cryptocurrency since last week Hong Kong became the first in Asia to trade spot Bitcoin ETFs the world's biggest Bitcoin conference is currently being held in Hong Kong some 5,000 participants are said to be attending Bitcoin Asia with over 200 speakers featured Pascal gatier is CEO of Ledger which offers crypto and nft storage and Management Solutions and he will be speaking at the conference this morning and joins me around the set as we speak Pascal welcome to Hong Kong and thank you for joining us thank you Emily now I know that you're going to be speaking over at Bitcoin Asia in a short time from now can you give us a little taste of what themes what message that you have brought to us here in Hong Kong you know at Ledger we always bring a message around security uh crypto assets are assets where the transaction is immutable and so security is Paramount Ledger we're a security company we secure retail users and we secure Enterprise we secure financial institutions and so we bring a message around security and we bring an announcement around our new products Ledger Stacks it's interesting I will get to to Stacks in just a minute because of course that's an exciting new wallet that's going to be coming to Market but I want to ask a little bit more about Hong Kong we did have the crypto ETFs launched just last week that was a little bit lukewarm uh so to speak on on the listing day but I'm reading that $37 million in inflows uh just in the first week of loan of trade here in Hong Kong those ETFs while us Bitcoin ETFs were seeing an outflow um talk to us a little bit about Asia in the whole crypto environment in the crypto world how big of a player is Asia versus the us or Hong Kong specifically Asia I think is a very big player when it comes to crypto and he probably an advanced player I think what happened in the US with the ETF are probably that you know investors that still didn't touch Bitcoin now have a vehicle to touch it there is a case to argue that probably in Asia a lot of investors family offices already uh wearing Bitcoin since the early days since 2017 so this is probably one of the reason why the ETF is lukewarm as you say or the start of ETF is lukewarm in Hong Kong because a lot of investors already in Asia is a big continent uh there are many countries I think if you look at South Korea Japan and in general like the biggest uh trading activity is really happening in Asia so this probably explains why the ETF has a slow start but you know we need to give it time and I'm sure it would be very successful here as well

Channel: CNBC International TV

Views: 816

Keywords: Asia: Squawk Box

Id: TeT-8HiDIKw

Length: 2min 43sec (163 seconds)

Published: Fri May 10 2024