Hong Kong Securities Regulatory Fee accredited kind 1 & 7 licenses for HashKey Trade to supply retail buying and selling providers beneath the brand new crypto regime. HashKey Trade turns into the primary crypto change to supply crypto retail buying and selling in Hong Kong as authorities look to make the town as a worldwide hub for the digital asset trade.
HashKey Receives License to Supply Crypto Retail Buying and selling
Hong Kong-based crypto change HashKey Trade on August 3 said it has upgraded its kind 1 and seven licenses to supply crypto buying and selling providers to retail traders. HashKey and OSL are the one two compliant exchanges in Hong Kong.
🚀 Huge information! HashKey Trade, a licensed digital asset change in Hong Kong, has upgraded its kind 1 & 7 licences to supply retail providers. Now, all customers can get pleasure from a secure and easy buying and selling expertise! https://t.co/DAFfq2ajoe
— HashKey Trade (@HashKeyExchange) August 3, 2023
HashKey has partnered with Commonplace Chartered Financial institution to supply customers with fiat forex deposit and withdrawal providers. The change additionally introduced the launch of its digital asset over-the-counter buying and selling service. Retail traders are restricted to buying and selling solely prime cryptocurrencies resembling Bitcoin and Ethereum.
“HashKey will have the ability to develop its enterprise scope from serving skilled traders to retail customers” after receiving an improve of its present licenses.”
HashKey Group operates in a number of areas from enterprise funding to asset administration and buying and selling. It introduced plans to lift $100 million to $200 million at a valuation above $1 billion amid Hong Kong’s push to develop into international crypto hub.
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Hong Kong Burgeoning Crypto Market
Crypto companies resembling Huobi, OKX, and Amber Group have plans for receiving licenses and provide crypto providers in Hong Kong. Amid regulatory scrutiny and crackdown in a number of nations, Hong Kong has develop into a popular vacation spot for crypto-focused companies, with Binance and Coinbase also looking on the market.
In the meantime, Hong Kong has signed agreements with the UAE and Saudi Arabia to strengthen monetary and crypto collaboration. The Hong Kong authorities additionally working with Singapore and different nations on cross-border transactions and CBDC.
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