HashKey exchange has achieved a remarkable milestone by becoming the first company to receive a license for crypto retail trading in Hong Kong. This license is a crucial part of the city’s new administration and opens up extensive opportunities for the digital asset sector worldwide.
In recent times, various Chinese cities have been embracing innovative sectors like the metaverse and digital assets. They are actively developing infrastructure to welcome and foster these cutting-edge technologies within their borders. Among these cities, Hong Kong, one of China’s most prominent, has taken a significant step forward.
HashKey’s First Hong Kong Crypto License
HashKey has proudly obtained the first-ever crypto retail trading license in Hong Kong. This achievement comes shortly after the city introduced its new licensing protocol on June 1st, showing clear progress in the sector’s development and license approval. HashKey confirmed this revolutionary news on Twitter, where it also informed the public about upgrading its type 1 and type 7 licenses.
This upgrade allows the exchange to serve retail investment throughout Hong Kong. The company had previously opted to participate in a voluntary licensing program within the city. Despite the ban on digital assets in mainland China, Hong Kong is steadfast in its aspirations to become a major cryptocurrency player on the global stage.
HashKey’s Ongoing Advancements
In addition to this license victory, HashKey has accomplished other impressive developments. It partnered with Standard Chartered Bank to enable users to transact seamlessly on its platform, offering convenient fiat currency deposit and withdrawal services.
The crypto exchange also underwent a brand revamp to reflect its new status as a virtual asset services provider for retail traders and institutional firms. This update aims to enhance user experiences and security. HashKey takes customers’ asset safety seriously, with 98% of users’ assets kept in cold storage for maximum protection, while only 2% are in hot wallets for quick access.
Furthermore, HashKey launched HashKey Brokerage, the first compliant over-the-counter (OTC) trading platform in the Asia-Pacific region. This virtual OTC platform allows high-net-worth investors to engage in bulk trading with high liquidity, providing them with a robust trading environment.
HashKey’s commitment to obtaining the crypto retail trading license and its ongoing efforts to improve user experience and security are commendable. As the digital asset sector continues to grow and evolve, HashKey is well-positioned to drive innovation and growth, making cryptocurrencies more accessible and secure for users around the world.
Final Thought
The future holds promising possibilities for HashKey and the entire crypto industry. With its new license and continued developments, HashKey is poised to lead the way in shaping the future of digital assets. As more cities and institutions embrace these innovative technologies, the financial landscape is undergoing a transformative shift, and HashKey stands at the forefront of this thrilling journey.