HashKey exchange undergoes upliftment of Type 1 and Type 7 licenses

HashKey exchange, a Hong Kong-based exchange platform, has successfully undergone a simplified process that uplifts its current Type 1 and Type 7 licenses. Following this, HashKey exchange is not restricted to serving only institutional investors. It is at liberty to serve retail users as well. This makes HashKey exchange the first exchange platform in Hong Kong to be regulated by the Securities & Futures Commission, also known as SFC.

Gaining access to the retail user segment helps HashKey exchange to expand its business scope in the region. It now aims to provide a trading experience to individual users that one can only define as secure and seamless. Hong Kong receives benefits from this development as well. HashKey exchange gaining the edge in the market helps them fill up the gap in the market demand.

HashKey exchange has also announced a brand revamp with tighter security measures for the best trading experience of virtual assets.

What probably worked for the platform was its design to comply with regulatory requirements. Security has been the utmost priority since its establishment. Users’ funds are also segregated from business operations. HashKey exchange allocates 98% of funds to cold storage and the remaining 2% of funds to hot storage. This acts as a multi-layered protection for user funds. Moreover, the platform undergoes compliance inspection and regular audits by the top four auditing companies. This makes HashKey exchange one of the most secure exchange platforms not just in Hong Kong but across the world.

Livio Weng from HashKey Group has assured the community that the platform will continue to fulfill its commitments to safety, compliance, and security to ensure that all the benefits are transferred to users in a fair & square manner. The Chief Executive Officer of the platform has also said that they are thrilled to become the first licensed trading platform in the region, adding that the regulatory clarity will help the industry to witness increased transparency.

HashKey exchange supports the deposit and withdrawal services of fiat currency. The Exchange platform aims to partner with more banks so that the process becomes smoother for users. The current banking association has Standard Chartered Bank on the list. HashKey exchange will add more banks in the times to come.

Pre-registrations for HashKey exchange are open. Users can get on board for a chance to earn HSK, HashKey EcoPoints, as a reward. The platform is planning to host a grand ceremony that will bring together all the banking partners, industry leaders, and other participants.

The platform has simultaneously announced the opening of HashKey Brokerage, an over-the-counter trading service for virtual assets. This is the first OTC platform that is compliant with regulatory requirements in Hong Kong. The offerings of HashKey Brokerage cover providing high-liquidity bulk trading for clients and investors with high net worth. They have also onboarded top financial experts from Hong Kong to their core team.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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