Family offices and high-net-worth individuals in Hong Kong and Singapore are eager to invest in cryptocurrency or already maintain assets, according to the report.
A recent KPMG survey suggested that over 90% of family offices and high-net-worth individuals (HNWI) are either interested in investing in the digital assets field or have already done so. Interestingly enough, following the report, Hong Kong and Singapore’s wealthy elite seem to be even more invested in cryptocurrencies.
Up to 58% of family offices and HNWI respondents to a recent poll are already investing in digital assets, and yet 34% intend to do so, according to the aforementioned research published on October 24 by KPMG China and Aspen Digital. The report is titled “Investing in Digital Assets.”
30 family offices and HNWIs in Hong Kong and Singapore participated in the poll, and it turns out the majority of these respondents manage assets between $10 million and $500 million.
According to KPMG, the significant adoption of cryptocurrencies by the ultra-wealthy has boosted general confidence in the digital assets industry. Additionally, it was mentioned that institutions now have easier access to financial instruments involving digital assets, including regulated ones.
In relevant news, the Monetary Authority of Singapore (MAS) has been increasing access to cryptocurrency trading for authorized investors, and selected exchanges have even received preliminary clearance to offer payment services related to virtual tokens in the city-state.