HashKey digital assets financial services platform has received approval from Hong Kong’s securities regulator to allow an Off-Platform virtual assets trading for its clients in the region.
HashKey Group, the largest supplier of digital assets financial services in Asia, has received clearance from the Securities and Futures Commission of Hong Kong (“SFC”) to operate an off-platform virtual asset trading operation in the area.
Hash Blockchain Limited (HBL) will facilitate transactions between two parties by acting as an intermediary. They would also let two parties trade tokens that are not posted on the order book of the exchange.
HashKey said that it will provide its customers with a safe and secure trading environment, therefore assuring the SFC that they would comply with the jurisdiction’s requirements for transparency, security, and integrity. Executive President of HashKey Group Michel Lee commented on the latest development:
“We are thrilled to receive the approval from the SFC. Our experience with the OTC business has been valuable, and this approval now provides clients with an option to face an entity that is licensed in Hong Kong. As we continue to prepare for the launch of HashKey PRO – our regulatory compliant virtual assets exchange, we are excited to be able to offer more products in the pipeline.”
It said that it will provide its customers with the best-in-class digital assets offerings after receiving SFC clearance. The Hong Kong SFC has issued both virtual assets licenses and OTC licenses.
CEO of HBL, Colin Zhong, said: HashKey said that it will provide its customers with the best-in-class digital assets offerings after receiving SFC clearance. The Hong Kong SFC has issued both virtual assets licenses and OTC licenses. CEO of HBL, Colin Zhong, said:
“A regulated exchange can make a difference in the OTC market in Hong Kong to provide a more secure and transparent environment for investors to trade digital assets, compared to the often opaque and unregulated nature of the OTC business. HashKey PRO is committed to fostering greater trust and confidence among investors. This, in turn, can help attract a broader base of participants to the market and facilitate the mainstream adoption of digital assets.”
HashKey may face competition in the Hong Kong market shortly! Huobi has also submitted an application for crypto trading licenses in Hong Kong. It intends to provide retail and institutional participants with a secure trading platform for digital assets.
