How will Hong Kong benefit from Chinese prohibitions?!

Tidbit is a Crypto exchange based in Hong Kong. As a result of the current developments on the Chinese market, the stock market is increasingly seeking to open up investors on the Chinese mainland.

A Chinese business center Hong Kong is a special administrative area of ​​the Chinese People’s Republic and has always benefited from its economic advantages through its special status.

These benefits do not disappear even nowadays, because the regulators on the mainland close the stock exchange, Tidebit wants to incorporate the same current.

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Tidebit belongs to the Tideisun Group and was founded in 2015. Originally, Tidebit described itself as a video platform for documentation and tutorials, but Terence Tsang, CEO of Tideisun, decided to set up a stock market by increasing inquiries from users about how Bitcoin and Ethereum can be bought.

After the closures in China, many new users opened an account with Tidebit: “The ban has not prevented them [Chinese investors] from continuing to buy cryptic ferries … in recent weeks, we have had a lot of new users from mainland China new account on Tidebit. They still want to join. I see a lot of demand, and I think that users will move to Hong Kong and Singapore. ”

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Expansion

Tidebit offers various payment methods and integrates WhatsApp as an interface for customer support. Further expansions for the future are already planned. This is how Vincent Poon of Tidebit explains:

“[Tidebit] is not just a trading platform, we have a real blockchain ecosystem. Currently, we only deal with Bitcoin and Ethereum. However, we plan to introduce further derivatives in the future. We also want to get a Japanese stock exchange license. “

The closing of Chinese exchanges again led to record highs in the local “local bitcoins” trading platform. In Hong Kong, between 19 August and 2 September, a trading volume of around 615,000 euros was traded alone through local Bitcoins.

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