The Future of Crypto Trading in Hong Kong: HashKey Exchange Welcomes Retail Investors

Hong Kong’s cryptocurrency landscape is set to witness a significant transformation as HashKey Exchange, a licensed virtual asset exchange, announced the upgrade of its Type 1 and Type 7 licenses. This milestone marks the first licensed trading platform in Hong Kong to cater to retail users since the city-state updated its laws, allowing them to buy certain cryptocurrencies with sufficient liquidity and large market caps.

HashKey Exchange’s Licence Upgrade and Retail Services

HashKey Exchange, a Hong Kong Securities and Futures Commission (SFC) licensed virtual asset exchange, has successfully obtained a license upgrade to expand its business scope. As an existing Type 1 and Type 7 license holder, the exchange underwent a streamlined process to secure the license upgrade, enabling it to offer retail services to investors.

With this license upgrade, HashKey Exchange can now serve both professional investors and retail users, fulfilling the market’s demand for a licensed platform that provides a secure and compliant environment for buying and storing cryptocurrencies. This development is expected to boost investor confidence and promote transparency in the industry, thanks to the clarity of regulatory frameworks in Hong Kong.

Livio Weng, the COO of HashKey Group, expressed his excitement about becoming the first licensed trading platform in Hong Kong dedicated to serving retail users. He emphasized the platform’s commitment to compliance, safety, and security, ensuring that user benefits are fully protected. HashKey Exchange aims to create a trading platform tailored to meet the needs of retail users.

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Prioritizing Safety and Security

Safety remains a top priority for HashKey Exchange, as the platform adheres to regulatory requirements to achieve native compliance. The exchange follows a multi-layered approach to protect user assets, keeping user funds in segregated accounts separated from platform operations. As much as 98% of user funds are stored in cold storage, with the remaining 2% in hot wallets. Regular audits and compliance inspections by leading auditing firms further establish HashKey Exchange as one of the most secure exchanges globally.

Enhanced Services for Users

In addition to supporting fiat currency deposits and withdrawals, HashKey Exchange is set to establish partnerships with top-tier banks to provide convenient fiat currency funding and withdrawal services for users. The platform also introduced the only compliant off-platform trading (OPT) services in the Asia-Pacific region, offering users more trading options.