HashKey Wins Breakthrough Hong Kong License to Provide Crypto Trading for Retail Investors

Updated: 03 August 2023

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HashKey Exchange won the first licence in Hong Kong to provide crypto trading for retail investors.

The licence was granted by Hong Kong’s Securities and Futures Commission and comes after the city unveiled a new regulatory framework for the crypto industry in June.

“We are thrilled to become the first licenced trading platform in Hong Kong dedicated to serving retail users,’ said Livio Weng, COO of HashKey Group. “With the establishment of licenced trading platforms and the further clarity of regulatory frameworks in Hong Kong, the industry as a whole will witness increased transparency, leading to a significant boost in investor confidence.”

Other cryptocurrency platforms including Huobi, OKX, and Amber Group also plan to apply for licenses in Hong Kong. Binance and Coinbase are interested as well as Hong Kong emerges as a new option for crypto businesses amid crackdowns on the industry in countries from the US to Australia.

The HashKey exchange has partnered with Standard Chartered Bank to enable fiat deposits and withdrawals for investors, it said. It also announced a brand revamp and said it will ensure virtual asset trading is secure and convenient for both professional and non-professional users alike.

🚀 Big news! HashKey Exchange, a licensed virtual asset exchange in Hong Kong, has upgraded its type 1 & 7 licences to offer retail services. Now, all users can enjoy a safe and simple trading experience! https://t.co/DAFfq2ajoe

— HashKey Exchange (@HashKeyExchange) August 3, 2023

Hong Kong Investors Get More Exposure to Crypto

Hong Kong is endeavoring to make a crypto hub with regulators announcing a stablecoin issuance playbook and a Dollar-based stablecoin in the works.

Hong Kong has also struck agreements with Saudi Arabia and the UAE to expand financial and cryptocurrency cooperation. The Hong Kong government collaborates on CBDC and cross-border transactions with Singapore and other nations.

一张好"牌"，即将到来 pic.twitter.com/S6AIgiuJgb

— Livio Weng 七爷 (@0xLivio) August 3, 2023

Pre-registration for HashKey Exchange is now open, and registered users will receive HashKey EcoPoints (HSK).

HashKey Exchange is headquartered in Hong Kong and is a digital asset financial services provider HashKey is headquartered in Hong Kong and is involved in businesses including trading and asset management. It previously said it planned to raise $100 million to $200 million at a valuation of at least $1 billion.

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