Hong Kong’s first licensed crypto exchange HashKey is now live

HashKey Exchange, the first licensed retail virtual asset exchange registered in Hong Kong, announced its official launch today. Together with executives from the HKSAR government, top-tier banks, insurers, and Big 4 auditing firms, HashKey held the grand launch in Hong Kong. Strictly adhering to the SFC’s user registration and KYC requirements, the HashKey Exchange platform […]

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HashKey Capital Secures Dual Licenses for Retail Crypto Services in Hong Kong

The virtualasset management provider HashKey Capital Limited has secured both Type 4 andupgraded Type 9 licenses from the Securities and Futures Commission (SFC),becoming the first licensed corporation to offer a complete suite of securitiesand virtual asset management and advisory services to retail investors in HongKong.

Representativesof the company told Finance Magnates that this move aims to positionHashKey Capital as one of the leading cryptocurrency firms operating in theregion.

HashKey Capital SecuresDual Licenses in Hong Kong

The Type 4license, obtained under license number BOP237, authorizes HashKey Capital toprovide securities and virtual asset advisory services, subject to conditionssuch as due diligence and investor knowledge assessments.

https://t.co/ervI3yxvKy

Thismilestone follows the firm's successful Type 9 license upgrade earlier thisyear, which allowed it to manage virtual asset investment products for retailinvestors.

We are nowthe only entity with double licensure in Hong Kong, Jupiter Zheng, the ResearchDirector at HashKey Capital, explained to Finance Magnates. This meanswe can offer a full suite of products and services for retail and institutionalinvestors.

As heemphasized, the company offers several different products, which can be broughttogether thanks to the dual license. Among them are in-house fund offerings,investment product advisory, research reporting, and investor education indigital assets.

For TradFiinvestors, these licenses increase confidence in our ability to bring compliantinvestment services to the public, added Vivien Wong, the Partner Liquid Fund atHashKey Capital.

A month ago, the Asian firm also introduced the HashKey Global exchange after obtaining a license in Bermuda to offer regulated digital asset trading services.

Suitability Test

To accessHashKey Capital's virtual asset advisory services, all clients must pass asuitability test, which helps the firm understand investors' financial status,geopolitical status, investment perspective, and risk tolerance

Allclients, whether they are retail or institutional investors, must pass asuitability test, before HashKey Capital can perform its virtual assetsadvisory services to them, Wong, added. The suitability test will helpHashKey Capital to understand the financial status and can determine which kindof advice to be delivered to them.

As she emphasized,additional tests will be conducted regularly, and KYC procedures will becarried out for their investors.

The latestmoves follow the introduction of the Bosera HashKey Bitcoin and Ether spotETFs, managed by Bosera Asset Management (International) Co., Limited, withHashKey Capital Limited serving as the sub-investment manager.

Since itsinception, HashKey Capital has managed over $1 billion in client assets and hasmade more than 500 investments in infrastructure, tools, and applications

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Asian Firm HashKey Unveils Global Exchange Post Bermuda Licensing

The HashKey Group, an Asian entity specializing in digitalasset services, has unveiled the HashKey Global exchange after securing alicense in Bermuda to provide regulated digital asset trading services. Theannouncement was made today (Monday), marking a milestone for the firmheadquartered in Hong Kong, with operational presence in Singapore and Tokyo.

Diversifying Services for Spot Trading and FuturesOfferings

With the unveiling of HashKey Global, the firm is poised toexpand its offerings, starting with spot trading services for 21 digitalassets. Among the featured assets are popular cryptocurrencies, such as bitcoin, ether, Tethers USDT, and Circle's USDC. Additionally, theexchange has revealed plans to introduce futures trading product services inthe coming weeks, further diversifying its portfolio and catering to the needsof its clientele.

HashKey Group aims to establish one of the worlds largestclusters of licensed exchanges within the next 5 years, surpassing all currentregulated exchanges, said Livio Weng, the COO of HashKey Group.

The HashKey Group attained unicorn status earlier this yearfollowing a fundraising round. The infusion of capital, which brought thecompany "nearly" to its $100 million fundraising objective, bolsteredits position in the industry.

.@HashKeyGroup has launched its crypto exchange @HashKey_Global, after it was granted a license in Bermuda. By @amitoj.https://t.co/OiLqY93zHP

Establishing HashKey Global in Bermuda's FavorableRegulatory Landscape

The choice to set up HashKey Global in Bermuda highlightsthe firm's emphasis on operating within a regulated framework, with acommitment to compliance with industry standards and the cultivation of trustamong investors and stakeholders. Bermuda's favorable regulatory environmenthas positioned it as an appealing jurisdiction for companies exploringopportunities in the digital asset sector while maintaining adherence torigorous regulatory protocols.

Earlier, HashKeyobtained all necessary licenses, making it the first Hong Kong firm tooffer crypto retail trading, as reported by Finance Magnates. This achievementmarks a notable milestone in legal regulations, as it updated Type 1 and Type 7licenses issued by the Securities and Futures Commission, allowing it tooperate a virtual asset trading platform and provide automatic trading servicesto both institutional and retail users.

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HashKey Group receives approval to operate crypto exchange from Hong Kong SFC

Hash Blockchain Limited (HBL), a member of the HashKey Group (HashKey), a blockchain asset financial services group in Asia, announced today it has received approval from the Securities and Futures Commission of Hong Kong (SFC) to operate a virtual asset trading platform, under a Type 1 (dealing in securities) license and a Type 7 (automated […]

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HashKey launches wealth management service citing ‘significant’ demand

Hong Kong’s HashKey recently received a number of licenses from local regulators, allowing it to expand its range of products and services.

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Altcoin season more probable once Bitcoin hits $80K Hashkey Capital

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HashKey's Full Crypto Licensing Opens Doors for Retail Trading in Hong Kong

More than two months ago, Hong Kong legalized cryptocurrencies, again offering retail traders access to the digital assets market. Until now, however, none of the companies have obtained all the necessary permits to actually conduct retail operations. This has now changed due to the local company HashKey, which has obtained all required licenses. From now on, it can provide its services not only to professional and institutional clients but also to other cryptocurrency enthusiasts.

First Hong Kong Company to Offer Crypto Retail Trading

HashKey has achieved a significant milestone in terms of legal regulation, successfully updating two main licenses issued by the Securities and Futures Commission (SFC) in Hong Kong. The first license, known as Type 1, authorizes HashKey to operate a virtual asset trading platform in accordance with Hong Kong's securities regulations. The second license, referred to as Type 7, gives the company official permission to provide automatic trading services to both institutional and retail users.

"We are thrilled to become the first licensed trading platform in Hong Kong dedicated to serving retail users," said Livio Weng, the COO of HashKey Group. "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."

In addition to this achievement, HashKey has become one of the pioneering licensed exchanges offering retail cryptocurrency trading services in Hong Kong. Moreover, the company officially introduced its over-the-counter (OTC) cryptocurrency trading platform called HashKey Brokerage. This OTC platform is fully compliant with local securities regulations, following the SFC's implementation of new regulatory frameworks for cryptocurrencies.

"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," Weng added.

Hongkong Wants to Become a Crypto Hub

The latest actions of Hong Kong, significantly easing cryptocurrency regulations, fit into a broader trend of the special Chinese administrative region aiming to become a cryptocurrency hub. As reported last month, the central bank of Hong Kong is allegedly pressuring HSBC, Standard Chartered, and Bank of China to accept cryptocurrency companies as clients.

The Hong Kong Monetary Authority (HKMA) has asked lenders why they are not opening bank accounts for firms dealing with cryptocurrencies. And the number of these firms is steadily growing. Recently, CoinEX, Gate.io, OKX, and Huobi announced their entry into the local market.

OKX also presented a new version of its mobile application targeted at customers from the region. The cryptocurrency exchange announced over 10,000 new user registrations from Hong Kong within just a month of launching the improved application.

?? Great news for Hong Kong users ???? The enhanced #OKX app allows you to buy, sell and hold 16 major cryptocurrencies - with the city's highest standards for security, technology and risk controls.Learn more?? https://t.co/ZNvdk9Fir0

Christian Hui, the Secretary for Financial Services and the Treasury in Hong Kong, revealed in March 2023 that over 80 foreign and Chinese cryptocurrency firms had expressed interest in setting up a branch in Hong Kong and obtaining local licenses since October.

"As of the end of February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong," Hui commented.

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