Second Largest Crypto Exchange Offers Spot Trading of Virtual Assets in Hong Kong

OKX, the world’s second-largest cryptocurrency exchange by trading volume and a leading Web3 technology company, has released an upgraded version of its app, enabling Hong Kong users to engage in safe and secure spot trading of virtual assets.

Listed Tokens For Trade

The exchange announced today that the listed tokens for retail investors in Hong Kong are BTC, ETH, ADA, MATIC, SOL, DOT, UNI, LINK, SAND, LTC, AVAX, AXS, ATOM, XLM, USDT and USDC. The users can buy, sell and convert 16 major virtual assets through the app, including BTC, ETH and several others.

Tokens can be purchased with HKD, peer-to-peer (P2P) or via ApplePay, Visa and Mastercard through third-party providers. They said in press release:

spot trading of virtual assets to Hong Kong users in accordance with the requirements for virtual asset service providers (VASPs) in the city.

OKX has been preparing for Hong Kong’s new regulatory regime for VASPs, establishing a local entity for its license application, which will be submitted ahead of the regulatory framework’s implementation on June 1, 2023. Over the past year, OKX has enhanced its operations and controls to meet anticipated regulatory requirements.

Read More About Expansion in Hong Kong..

Hong Kong- The Crypto Hub

The city aspires to become a thriving hub for digital assets in support of the government’s policy objectives.

The company actively collaborates with government authorities to showcase its security measures, custody solutions, anti-money laundering (AML) protocols, and compliance capabilities, aiming to meet the stringent standards expected of licensed VASPs.

Lennix Lai, OKX Global Chief Commercial Officer, emphasized the company’s commitment to providing a secure and user-friendly crypto trading experience for its users. Lai also expressed OKX’s dedication to working closely with the regulators during the licensing process under the new VASP regime.