By Mark Ackman
The highly wealthy elite in Singapore and Hong Kong are highly fond of making investments in cryptocurrencies and digital assets.
The JPMG has just published a new report that goes to confirm that more than 90% of the wealthy elites in the mentioned countries are fond of investing in cryptocurrencies.
Report by KPMG
The data collected from the report confirms that out of the total high-net-worth individuals and family offices 90% want to invest in cryptocurrencies.
The study confirms that the vast majority of the elite community members in Singapore and Hong Kong have a strong interest to invest in cryptocurrencies.
The report confirms that the 90% majority also includes the ones who have already invested in cryptocurrencies.
Detailed Results from the KPMG Report
The KPMG reportedly issued a report titled “Investing in Digital Assets” on October 24, which shows the interest of the elites in cryptocurrencies.
The report confirms that 58% of the total family offices in Singapore and Hong Kong have already invested in cryptocurrencies.
On the other hand, 34% of the total respondents revealed that they have a high interest in investing in cryptocurrencies.
Survey Participants
The survey was reportedly carried out among the Singapore and Hong Kong HNWIs and the family offices. To be precise, 30 family offices were participating in the particular survey.
All of these particular entities manage assets that are neither lower than $10 million nor higher than $500 million.
In recent years, the mainstream institutional adoption of cryptocurrencies has helped attract many major investors to the crypto sector.
Among these investors are the elites who are eager to gain more exposure in the cryptocurrency market. They want to spend as much money as possible on cryptocurrencies for higher gains.
They are approaching major institutions because they are able to gain access to the highest level of accessibility when it comes to cryptocurrencies and other products.
However, the elite investors do want the cryptocurrency industry to be highly regulated. This grants them an assurance that they can perform trades without any issues or problems whatsoever.
Major Institutions are gaining more Exposure
DBS, which is the largest bank in Singapore, made an announcement in the month of September about offering a higher range of services related to crypto.
The bank is already operating its own digital exchange (DDEx) that is already catering to the investment needs of 100,000 clients that are wealthy.
The platform launched by the DBS is available only to those who are able to meet the criteria for being classified as accredited investors.
It is speculated that the adoption in the particular sector may continue happening. Therefore, Singapore and Hong Kong may soon become one of the largest investing regions in the world.