HKVAC Set Up To Rate The Reliability Of Virtual Assets And Exchanges

Key Points:

• HKVAC (Hong Kong Virtual Assets Consortium), the virtual asset rating agency in Hong Kong, has officially announced its establishment.
• The platform’s purpose is to reflect the reliability of the trading platform while promoting transparency and accountability in the virtual asset trading market.
• Professional and industry rating agencies established HKVAC.

According to official news, HKVAC (Hong Kong Virtual Assets Consortium), the virtual asset rating agency in Hong Kong, has officially announced its establishment and will launch the “virtual asset index” and “asset exchange rating” virtual property.”

Among them, the HKVAC Large Scale Cryptocurrency Index reflects the overall performance of high-cap cryptocurrencies in the global crypto market, including 30 cryptocurrencies with the highest international market capitalization that meet their candidate criteria.

The adjusted review date is the last day of each quarter (March, June, September, and December). Virtual asset exchange ratings reflect the reliability of the trading platform and promote transparency and accountability in the virtual asset trading market.

Professional and industry rating agencies established HKVAC. It includes virtual asset industry stakeholders, including big data companies, exchanges, institutional investors, and more, along with Hong Kong’s licensed rating agencies.

In an attempt to be the next crypto hub, the agency was created with the aim of creating a secure virtual asset investment environment to improve investors’ recognition of assets and virtual products.

HKVAC will provide a fair and objective credit rating that reflects the credit status of the trading platform. It helps reduce information asymmetry among market participants and promotes fair competition.

The platform also continuously monitors the exposure of the trading market, provides risk management metrics to industry stakeholders and investors and conducts credit assessments on virtual currency on the exchange to ensure that all investors can understand the level of risk of their investment.

The agency said it had received support from partners, including FrancXav Asia Ratings, G-Rocket Global Accelerator, Hong Kong Data Infinity Technology, HKVAEX, Huobi, Ipollo, KuCoin, LK Venture, Nano Labs, Purise, and Wealthking Investment Limited.

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