• Wed, 21 Aug 2019, 01:12 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

China dominates token field in H1 2019, $1.18B raised

China.AK Rockefeller/Flickr

Sat, 13 Jul 2019, 05:24 am UTC

With tokenization being relatively new, it would seem that China is already far ahead of everyone else in the game. Firms that dipped their fingers into the turning and offering of digital assets, and came away with the most value largely originated from the second-largest economy in the world. The total amount came up to $1.18 billion, which is about 33.2 percent of the total figure raised by tokenization in the first half of 2019.

As CoinNess points out, the Chinese government is not exactly the biggest fan of cryptocurrency, with authorities being quite clear in its opposition of ICOs and the like. However, this new report by noted research entity Inwara reveals that the country’s private sector is not quite as bearish. In fact, Chinese firms have been doing quite well in their tokenization ventures.

For some context, the report notes that there were over 583 token offerings in the first half of 2019. Of these, it would appear that the US actually saw more tokens in terms of sheer numbers. However, if the subject is the amount raised, China’s firms have the upper hand and it managed to do this despite only having 30 tokens to the 66 by the US.

Surprisingly, Singapore took second place in terms of the number of token offerings that became available, with 52. The Southeast Asian port nation is fast becoming one of the friendliest places to conduct business for blockchain firms. This is what allowed it to compete with the US in terms of tokenization volume despite being significantly smaller in size.

One reason for the dominance that Chinese firms are displaying could be the country’s fervent support for blockchain, EthereumWorldNews points out. Efficient and far-reaching, the decentralized ledger technology offers a wide range of options for a country with grand ambitions like China.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,700.20 (-1.78%)
  • Ethereum (ETH) $194.60 (-3.59%)
  • XRP (XRP) $0.273800 (-2.54%)
  • Bitcoin Cash (BCH) $313.79 (-2.97%)
  • Litecoin (LTC) $74.98 (-2.43%)
  • Bitcoin (BTC) $10,700.20 (-1.78%)
Aug 20, 2019 (Tuesday)
14:02
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:14
HSBC inks agreement to tap Identitii’s blockchain-based information exchange platform ‘Overlay+’
11:59
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:29
Crypto Technicals: XRP/USD fails at 21-EMA, resumes weakness with 'Doji' formation
10:29
Israeli regulator seeks to expedite licensing procedures for fintech and blockchain firms
10:26
Crypto Technicals: Litecoin treads water below 200-DMA, bias bearish
09:26
bitFlyer teams up with Tpoint Japan to rollout bitcoin rewards program
09:03
Crypto exchange startup INX Limited eyes $129.5M IPO, marking the first SEC-registered security token sale
08:00
New York court denies Bitfinex, Tether's lack of jurisdiction claim
07:16
Crypto Technicals: BTG/USD recovery lacks traction, weakness likely to continue
07:15
Ethereum Foundation launches Korean version of its website, announces large-scale translation program
06:39
Crypto exchange BitMEX to block users in from Seychelles, Hong Kong, Bermuda
06:35
Cybersecurity veteran David Damato joins crypto exchange Gemini
05:42
Deloitte unveils demonstrational platform for blockchain solutions
05:36
Crypto Technicals: ETH/USD consolidates break above 200H SMA, potential 'Golden Cross' raises scope for upside
04:36
Crypto custodian BitGo poaches new Chief Revenue Officer from rival Xapo
03:50
97% of South Korean crypto exchanges on the verge of bankruptcy; blockchain startups now want to go overseas: Report
03:41
Philippines' central bank approves 2 new cryptocurrency exchanges
03:38
Association of Cryptocurrency Enterprises and Startups, Singapore rolls out new Code of Practice
Aug 19, 2019 (Monday)
13:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft