just now
AUGUST 03, 2023 - HashKey Exchange, a virtual asset exchange licensed by the Hong Kong Securities and Futures Commission (SFC), has officially announced an upgrade to its Type 1 and Type 7 licenses. This significant milestone makes HashKey the first licensed trading platform in Hong Kong to offer retail services, fulfilling the market demand for a regulated platform that simplifies the process of purchasing and storing cryptocurrencies.
HashKey Exchange, already a holder of the Type 1 and Type 7 licenses, sailed through a streamlined process to secure this upgrade. The enhancement allows HashKey Exchange to extend its operations from catering only to professional investors to also serving retail users.
Concurrent to this achievement, HashKey Exchange has unveiled a brand overhaul, committed to providing both professional investors and retail users with a secure and seamless virtual asset trading experience.
Livio Weng, COO of HashKey Group, shared his thoughts on the upgrade, "We are thrilled to become the first licensed trading platform in Hong Kong dedicated to serving retail users. 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. 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."
HashKey Exchange places safety at the forefront of its operations. The platform was designed to align with regulatory requirements from the start, implementing multi-layered protection for user assets. A strict segregation policy is in place for user funds, with 98% kept in cold storage and the remaining 2% in hot wallets, separate from the platform's operational funds. Consistently adhering to regulatory mandates, HashKey Exchange undergoes regular audits and compliance inspections by the Big 4 auditing firms, earning a spot as one of the most secure exchanges globally.
Beyond supporting fiat currency deposits and withdrawals, HashKey Exchange plans to form additional partnerships with top-tier banks to offer convenient fiat funding and withdrawal services for users. The platform has also introduced compliant off-platform trading (OPT) services, the only one in the Asia-Pacific region, providing users with an expanded range of trading options.
HashKey Exchange has simultaneously launched HashKey Brokerage, the first OPT service in Hong Kong, compliant with the new regulatory framework set by the Securities and Futures Commission in June. The platform provides high liquidity bulk trading for investors and high-net-worth clients, offering a secure and reliable channel for fund circulation.
Recently, HashKey Exchange has bolstered its team with over ten seasoned professionals possessing substantial experience in exchange operations. Together with leading financial experts in Hong Kong, they form the core team of HashKey Exchange, ensuring exceptional product quality and user experience.
In anticipation of an August grand ceremony to celebrate its milestone and launch the first trading app for retail users, HashKey Exchange has opened pre-registration, rewarding registered users with HashKey EcoPoints (HSK).
