According to online reports, according to the Hong Kong Economic Journal, US-listed cryptocurrency exchange Coinbase announced that it would consider expanding the Asia-Pacific market. John O'Loghlen, managing director and director of Australia, said that it withdrew from the Japanese market the year before last. Although Japan has recently relaxed token restrictions, the types of tokens are still very limited and the platform must have at least 10 actual employees, which is quite challenging from a business perspective. John O'Loghlen also said that there are no plans to start business in Hong Kong at this stage. If international platforms enter the Hong Kong market, the tech stack of the entire exchange may need to be changed. However, Coinbase has already begun to provide custody work for local ETFs in Hong Kong, and is also negotiating with HSBC on an ETF sub-custodian plan.