- The SFC of Hong Kong has upgraded two key licenses.
- The company is excited to expand its customer base to the retail sector.
HashKey Exchange is the first cryptocurrency exchange in Hong Kong to get a license to operate for retail clients under the region’s new crypto guidelines, which are designed to turn Hong Kong into a global cryptocurrency center.
HashKey Group, which includes virtual asset exchange HashKey Exchange in Hong Kong, made the announcement. The company is excited to expand its customer base beyond institutional investors and into the retail sector. The SFC of Hong Kong has upgraded two key licenses,. Thus, making it possible for HashKey to reach a new regulatory threshold.
Pushing Crypto Adoption
HashKey has obtained a Type 1 license, which enables the company to run a virtual asset trading platform in accordance with Hong Kong’s securities legislation. Type 7, the second, allows the company to provide automated trading services to both institutional and retail clients, as noted in the statement. Moreover, HashKey Brokerage, HashKey’s crypto over-the-counter (OTC) trading business, has also been officially launched.
Following the SFC’s acceptance of a new crypto regulatory framework. The OTC platform is stated to be in accordance with local securities regulations. Moreover, HashKey’s fiat money deposit and withdrawal services are provided by Standard Chartered Bank.
Venture capital, asset management, and trading are just a few of HashKey Group’s many areas of expertise. In light of Hong Kong’s efforts to become a worldwide crypto center. The group has revealed ambitions to raise $100 million to $200 million at a valuation of more than $1 billion. Hong Kong has emerged as a haven for crypto-related businesses as a result of increased regulatory scrutiny and crackdowns in various nations.
