HashKey Secures Approval for Off-Platform Virtual Asset Trading in Hong Kong

Crypto developments in Hong Kong are currently in full swing as the region seeks to become the crypto hub of Asia. Reportedly, Beijing has been supporting Hong Kong’s quest of penetrating the crypto market and its recent ambitions.

Asia’s leading digital assets financial services provider HashKey Group announced that it has secured approval from the Securities and Futures Commission of Hong Kong (“SFC”) for conducting an off-platform virtual asset trading business in the region.

Hash Blockchain Limited (HBL) will play the role of an intermediary in facilitating trade between two parties. They would also allow two parties to trade tokens even if they aren’t listed on the exchange’s order book.

HashKey said that it would offer a safe and secure trading environment to its clients thereby ensuring SFC that they would adhere to their jurisdictional standards of transparency, security, and integrity. Speaking on the development, Michel Lee, Executive President of HashKey Group said:

“We are thrilled to receive the approval from the SFC. Our experience with the OTC business has been valuable, and this approval now provides clients with an option to face an entity that is licensed in Hong Kong. As we continue to prepare for the launch of HashKey PRO – our regulatory compliant virtual assets exchange, we are excited to be able to offer more products in the pipeline.” 

HashKey To Offer the Best Digital Assets Products to Clients in Hong Kong

Having received the approval from SFC, HashKey said that it would be providing the best-in-class digital assets products to its clients. It has secured both virtual assets licenses and OTC licenses from the Hong Kong SFC. Colin Zhong, CEO of HBL said:

“A regulated exchange can make a difference in the OTC market in Hong Kong to provide a more secure and transparent environment for investors to trade digital assets, compared to the often opaque and unregulated nature of the OTC business. HashKey PRO is committed to fostering greater trust and confidence among investors. This, in turn, can help attract a broader base of participants to the market and facilitate the mainstream adoption of digital assets.” 

HashKey could be soon facing competition in the Kong Kong market! Crypto exchange Huobi has also applied for crypto trading licenses in Hong Kong. It plans to offer retail and institutional players a safe and secure platform to trade digital assets.