Hong Kong, 3 August 2023 – HashKey Exchange, a Hong Kong Securities and Futures Commission (SFC) licensed virtual asset exchange, officially announces the upgrade of Type 1 and Type 7 licences, marking the first licensed trading platform in Hong Kong to offer retail services.
As an existing Type 1 and Type 7 licences holder, HashKey Exchange successfully underwent a simplified process to obtain the licence upgrade.
The successful license upgrade allows HashKey Exchange to expand its business scope from serving professional investors to retail users, fulfilling market demand for a licensed platform that offers users a safer and simpler process for buying and storing cryptocurrencies.
HashKey Exchange also announces a brand revamp, now providing both professional investors and retail users with more secure and convenient virtual asset trading experiences.
Livio Weng, COO of HashKey Group said:
“We are thrilled to become the first licenced trading platform in Hong Kong dedicated to serving retail users.
With the establishment of licenced 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.
As an industry leader, we will continue to fulfill our commitments in compliance, safety and security, ensuring our user benefits are fully protected and creating a trading platform tailored to retail users.”
Safety remains a top priority for HashKey Exchange. The platform was designed and developed from the outset in accordance with regulatory requirements to achieve native compliance, with a focus on multi-layered protection of user assets.
User funds are kept under segregated accounts, separated from platform operations, with 98% in cold storage and 2% in hot wallets. In addition, the platform strictly adheres to regulatory requirements and undergoes regular audits and compliance inspections conducted by the Big 4 auditing firms, establishing itself as one of the most secure exchanges globally.
In addition to supporting fiat currency deposits and withdrawals, HashKey Exchange will establish more partnerships with top tier banks to provide convenient fiat currency funding and withdrawal services for users.
Furthermore, the platform has opened the only compliant OTC trading in the Asia-Pacific region, offering users more trading options.
Simultaneously, HashKey Exchange has officially launched its virtual asset over-the-counter (OTC) trading service, HashKey Brokerage. This is the first compliant OTC trading platform in Hong Kong following the implementation of the new virtual asset exchange regulatory framework by the Securities and Futures Commission in June.
The platform offers high liquidity bulk trading for investors and high-net-worth clients, providing a secure and reliable channel for fund circulation.
In addition to supporting fiat on-and-off ramps, HashKey Exchange has also partnered up with Standard Chartered Bank to provide users with convenient fiat currency deposit and withdrawal services. At the same time, we also offer compliant OTC trading services, expanding users’ trading options.
Recently, HashKey Exchange has been actively expanding its team, onboarding over ten senior professionals with extensive experience in exchange operations. They will collaborate with top financial experts in Hong Kong to form the core team of HashKey Exchange, ensuring exceptional product quality and user experience.
HashKey Exchange has officially opened pre-registration, and registered users will be rewarded with HashKey EcoPoints (HSK). To commemorate this milestone, a grand ceremony will be held in August, bringing together industry leaders, banking partners, insurance institutions, and universities to celebrate and unveil product details.
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About HashKey Exchange
On a mission to set the bar for virtual asset exchanges in compliance, safety, and security, HashKey Exchange has received approval from the Securities and Futures Commission of Hong Kong to operate a virtual asset trading platform under a Type 1 (Dealing in securities) licence and a Type 7 (Providing automated trading services) licence to provide trading services to both institutional and retail users .
HashKey Exchange operates under Hash Blockchain Limited in Hong Kong. HashKey Exchange is also ISO 27001 and ISO 27701 certified.
About HashKey Group
HashKey Group is an end-to-end digital asset financial services group in Asia. The Group provides a complete ecosystem across the entire digital asset landscape, ranging from trading, custody, venture investment, technologies to Web3 infrastructure.
HashKey’s senior team has decades of investment and trading experience and deep market insights gained from tier-one banks, regulators and FinTech ventures.
By bringing together the most advanced blockchain research and development and technologies, HashKey identifies potential opportunities and delivers end-to-end solutions that operate within regulatory frameworks with the highest compliance standards.
The Group has operations in Hong Kong, Singapore and Japan, and extensive partnerships with FinTech and blockchain solutions providers, academic institutions and associations.
Website: https://group.hashkey.com
Twitter: https://twitter.com/HashKeyGroup
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