Business News Report
August 03, 2023

HashKey Rumored to Get an Upgraded Crypto License in Hong Kong

On August 3, a major positive development emerged with low-key support from China. Reports indicate that the Hong Kong Securities and Futures Commission, with China’s backing, is set to upgrade Hashkey Pro’s license, allowing it to serve retail traders. In case this happens, Asia’s digital asset group, HashKey Exchange, will become the first exchange approved by the Hong Kong Securities Regulatory Commission.

HashKey Rumored to Get an Upgraded Crypto License in Hong Kong

A hint for this was shared by Livio Weng, the Chief Operational Officer of HashKey Group and the former CEO of Huobi Global. “A good “card” is coming,” wrote Livio Weng, Hashkey Group COO, on X (former Twitter). 

To some of Weng’s followers, the news seemed like a meme. The others, on the contrary, were excited about the news and congratulated the company. 

Blockchain journalist Colin Wu of Wu Blockchain News shared that the Hong Kong Securities and Futures Commission, under China’s backing, is set to upgrade Hashkey Pro’s license. This would allow the platform to serve retail traders. The range of supported currencies has yet to be confirmed. Currently, Hashkey Pro only supports Bitcoin (BTC), Ethereum (ETH), USD Tether (USDT), and USD Coin (USDC). 

At the time of writing, Hashkey Pro and OSL are the only compliant exchanges.

Update: HashKey Exchange officially announced the upgrade of Type 1 and Type 7 licenses. The company will collaborate with leading banks to offer users easy fiat currency financing and withdrawal options, in addition to facilitating fiat currency deposits and withdrawals. Standard Chartered Bank is one of the organizations that will enable fiat currency deposit and withdrawal services.

More than that, HashKey Exchange has officially launched its virtual asset over-the-counter trading service, HashKey Brokerage. As the only compliant OTC trading in the Asia-Pacific region, the platform will offer more trading options.

“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,” said Livio Weng, COO of HashKey Group. 

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About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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