๐DeFi fans, brace yourselves! HK Stock Exchange's Stock Connect is getting a blockchain upgrade called Synapse! ๐ค
๐Laugh all you want, but this bad boy will use smart contracts to execute post-trade workflows & reduce settlement risk. Efficiency, here we come! ๐
๐Synapse connects HK & mainland China markets, creating settlement instructions for all parties, enabling concurrent processing & near-instant updates. Talk about a game-changer! ๐ฎ
๐ฐThe Stock Connect's avg daily turnover reached $15.3B in 1H 2023, up 5% YoY & 50% from 2020 levels. ๐
๐ฆ๐บMeanwhile, down under, ASX has been advised to adopt blockchain for its settlement system too. Will they follow suit? ๐ค
๐๏ธMark your calendars, Synapse launches in HK on Oct 9! ๐
๐ฃ๏ธWhat do you think about this blockchain upgrade? Share your thoughts in the comments! Let's get the conversation going! ๐ฌ