News

Hong Kong’s First Licensed Platform HashKey Exchange Breaks Ground With BTC Trading

Key Points:

  • HashKey Exchange launches BTC/USDT and ETH/USDT trading pairs debut for professional investors on August 10, 2023.
  • HashKey secures pioneering license, setting the pace for crypto market expansion.
  • HashKey’s partnerships and insights reshape Hong Kong’s crypto landscape, offering potential while acknowledging challenges.
Hong Kong-based HashKey Exchange is set to introduce new trading pairs to its platform, catering exclusively to professional investors.
Hong Kong's First Licensed Platform HashKey Exchange Breaks Ground With BTC Trading 2

Starting from 8:00 on August 10, 2023, traders will have access to BTC/USDT and ETH/USDT pairs.

Notably, HashKey Exchange holds the distinction of being the pioneer recipient of a Hong Kong license under the open crypto policy, implemented on June 1, 2023. This coveted license has since been granted to OSL as well, marking the second such achievement in the region.

The competitive landscape has been energized by Hong Kong’s decision to permit individual investors to engage in cryptocurrency trading. Prominent exchanges like OKX, Huobi, and BitMEX have vied for licenses, but HashKey has emerged as a standout contender. It swiftly obtained class 1 and class 7 licenses, enabling the provision of trading services to individual investors. The company is inviting users to register and partake in the HSK token airdrop.

HashKey’s rapid license acquisition – a mere two months following policy implementation – underscores the efficiency of the local government’s processes.

Supporting HashKey Exchange’s operations is Standard Chartered Bank, which facilitates fiat deposits and withdrawals for users. This partnership follows HSBC’s pioneering initiative in enabling customers to trade Bitcoin and Ethereum ETFs.

While HashKey Exchange’s advancement into the new trading pairs domain opens opportunities, it also acknowledges the potential challenges posed by decentralized and open-source systems. The risk of technological non-collaboration affecting network performance and the possibility of BTC and ETH being superseded by more efficient competitors are among the concerns being transparently communicated.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Swift, UBS, Chainlink Complete Pilot for Global Tokenized Fund Settlement Network

Swift, UBS Asset Management, and Chainlink have completed a proof-of-concept that would settle tokenized fund…

12 mins ago

Jambo and Lif3 Partner to Make Crypto Payments Accessible to Millions of Users in Emerging Markets

Abu Dhabi, United Arab Emirates, 5th November 2024, Chainwire

16 mins ago

Jito and Solana Outpace Ethereum in 24-Hour Fee Revenue

According to data from SolanaFloor, Jito and Solana's 24-hour protocol fee income has surpassed Ethereum's…

49 mins ago

Which 3 Altcoins Will Skyrocket the Most in the Next Big Bitcoin Rally?

As the crypto market is about to witness the next big Bitcoin surge, Rexas Finance,…

1 hour ago

Gate.io Shatters Records in Total Trading Volume in Q3 2024, with Its User Base Surpassing 17 Million

In the third quarter of 2024, despite a challenging market environment, Gate.io maintained strong growth…

2 hours ago

MEXC Champions the Future of Crypto Content Creation at CCCC

MEXC is proud to partner with the inaugural Crypto Content Creator Campus CCCC event, taking…

2 hours ago

This website uses cookies.