HashKey Exchange Becomes First Licensed Retail Crypto Trading Platform in Hong Kong

blockchain.news:

Hong Kong, 3 August 2023 — HashKey Exchange has announced the official upgrade of its Type 1 and Type 7 licences, becoming the first licensed virtual asset exchange for retail users in Hong Kong. This significant milestone marks a new era in the region's cryptocurrency landscape.

License Upgrade and Expansion

Previously holding Type 1 and Type 7 licences, HashKey Exchange underwent a simplified process to obtain the licence upgrade. This allows the platform to expand its services from professional investors to retail users, addressing the market's need for a licensed platform that offers a secure and straightforward process for buying and storing cryptocurrencies.

The COO of HashKey Group, Livio Weng, stated: «With the establishment of licensed 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.»

Security Measures

Security remains a paramount concern for HashKey Exchange. The platform has implemented multi-layered protection of user assets, with 98% of funds kept in cold storage and 2% in hot wallets. Regular audits and compliance inspections are conducted by the Big 4 auditing firms, reinforcing its reputation as one of the most secure exchanges globally.

New Services and Partnerships

In addition to supporting fiat currency deposits and withdrawals, HashKey Exchange has launched its virtual asset over-the-counter (OTC) trading service, HashKey Brokerage, the first compliant OTC trading platform in Hong Kong. The platform has also partnered with Standard Chartered Bank to enhance fiat currency deposit and withdrawal services.

Team Expansion and Pre-Registration

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