Hong Kong Securities Regulatory Commission approved type 1 & 7 licenses for HashKey Exchange to offer retail trading services under the new crypto regime. HashKey Exchange becomes the first crypto exchange to offer crypto retail trading in Hong Kong as authorities look to make the city as a global hub for the digital asset industry.
HashKey Receives License to Offer Crypto Retail Trading
Hong Kong-based crypto exchange HashKey Exchange on August 3 said it has upgraded its type 1 and 7 licenses to offer crypto trading services to retail investors. HashKey and OSL are the only two compliant exchanges in Hong Kong.
Recommended Articles
Crypto Presale Projects For 2023 To Invest; Updated List Must Read 
Best Crypto Exchange Affiliate Programs In 2023 Must Read 
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] Must Read 
Crypto Telegram Channels List 2023 [Updated] Must Read 
Top 10 Web3 Games To Explore In 2023; Here List Must Read
HashKey has partnered with Standard Chartered Bank to provide users with fiat currency deposit and withdrawal services. The exchange also announced the launch of its virtual asset over-the-counter trading service. Retail investors are restricted to trading only top cryptocurrencies such as Bitcoin and Ethereum.
HashKey Group operates in multiple areas from venture funding to asset management and trading. It announced plans to raise $100 million to $200 million at a valuation above $1 billion amid Hong Kong’s push to become global crypto hub.
Hong Kong Burgeoning Crypto Market
Crypto firms such as Huobi, OKX, and Amber Group have plans for receiving licenses and offer crypto services in Hong Kong. Amid regulatory scrutiny and crackdown in several countries, Hong Kong has become a favored destination for crypto-focused firms, with Binance and Coinbase also looking at the market.
Meanwhile, Hong Kong has signed agreements with the UAE and Saudi Arabia to strengthen financial and crypto collaboration. The Hong Kong authorities also working with Singapore and other countries on cross-border transactions and CBDC.
