HashKey Launches Licensed Retail Cryptocurrency Exchange in Hong Kong, Targets Significant User Base Growth
Summary:
HashKey, a licensed cryptocurrency exchange, has launched its retail trading services in Hong Kong, allowing retail traders to access Bitcoin and Ethereum trading pairs with the Hong Kong Dollar. The exchange aims to onboard 500,000 to 1 million users by 2023 and predicts a significant increase in Hong Kong's crypto user base. They emphasize the importance of regulatory oversight in driving growth and innovation in the Web3 ecosystem. Hong Kong's regulated cryptocurrency ecosystem continues to attract global players like Binance and OSL.
HashKey, a cryptocurrency exchange, has launched its retail trading services in Hong Kong, making it the first licensed retail exchange in the region. The company was granted Type 1 and Type 7 licenses by the Hong Kong Securities and Futures Commission (SFC) on August 3, allowing it to serve both professional and institutional investors. Now, retail traders in Hong Kong can access Bitcoin and Ethereum trading pairs with the Hong Kong Dollar. HashKey plans to expand its token listings and has announced support for United States and Hong Kong Dollar deposits and withdrawals. The exchange aims to onboard 500,000 to 1 million users by the end of 2023. HashKey believes that the favorable regulatory environment in Hong Kong will attract global Web3 talents and capital. They predict that Hong Kong's crypto user base will increase to 10 to 15 million people over the next two years. The exchange operates on the HEX Engine, which can process 5,000 transactions per second. It also complies with regulatory requirements such as user screening, AML inspections, and transaction monitoring. HashKey emphasizes the importance of regulatory oversight in driving growth and innovation in the Web3 ecosystem. Hong Kong's regulated cryptocurrency ecosystem has also attracted global players like Binance. OSL, another cryptocurrency provider, has also obtained a license from the SFC to offer its services to retail customers in Hong Kong.
Published At
8/30/2023 7:57:01 AM
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