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Wednesday, February 28, 2024

Hong Kong’s first licensed crypto trade HashKey is now stay – CryptoNinjas


HashKey Trade, the primary licensed retail digital asset trade registered in Hong Kong, introduced its official launch right now. Along with executives from the HKSAR authorities, top-tier banks, insurers, and Huge 4 auditing companies, HashKey held the grand launch in Hong Kong.

Strictly adhering to the SFC’s consumer registration and KYC necessities, the HashKey Trade platform helps USD and HKD fiat deposits and withdrawals, and can initially help buying and selling in BTC/USD, and ETH/USD, with plans to introduce extra markets following regulatory pointers.

The trade, which acquired approval again in November of 2022 is providing a zero-fee promotion, delivering all customers zero fee buying and selling on all transactions.

Hong Kong’s First Licensed Retail Digital Asset Trade

Livio Weng, COO of HashKey Group, unveiled the next-generation high-performance buying and selling system, the “HEX Engine,” supporting 5,000 transactions per second (TPS).

Weng additionally introduced a complete improve to institutional enterprise options, providing strong API interfaces and enhanced account administration options (together with the Omnibus Account) to supply brokerage and institutional shoppers with deeper buying and selling liquidity and smoother experiences.

As a licensed entity beneath the Hong Kong Securities and Futures Fee, HashKey Trade has devoted substantial assets to establishing a local compliance product framework.

Masking a complete spectrum together with consumer admission inspection, anti-money laundering (AML) inspection, transaction monitoring, and mental property (IP) oversight, creating a whole regulatory closed-loop system. This method spans everything of inside operational processes, guaranteeing a sturdy compliance safeguard for traders.

Trade Options:

  • Fiat Foreign money Deposits & Withdrawals: In partnership with main business banks, HasKey gives USD/HKD fiat foreign money deposit and withdrawal companies, permitting direct transfers between financial institution accounts and HashKey fiat accounts. Direct USD and HKD transfers from financial institution accounts are supported.
  • Fiat Buying and selling Pairs: Offering retail prospects with fiat buying and selling pairs corresponding to BTC/USD and ETH/USD, with plans to help further fiat currencies and pairs, together with HKD sooner or later.
  • Licensed Custody: Unbiased licensed custody system topic to common inspections by the securities regulators. HashKey holds a TCSP (Belief or Firm Service Supplier) license.
  • Chilly and Sizzling Pockets Separation: 98% of digital property are saved in chilly wallets and a couple of% in sizzling wallets, guaranteeing the safety of nearly all of property.
  • Asset Insurance coverage: HashKey Trade pioneers within the business by introducing skilled insurance coverage establishments to supply insurance coverage for consumer property beneath custody.
  • Authoritative Auditing: The platform strictly adheres to regulatory necessities, present process audits and compliance checks by the Huge 4 accounting companies, absolutely complies with numerous regulatory provisions, establishing itself as one of the vital safe exchanges globally.

Setting Sail within the Web3 Period in Hong Kong

The HashKey Trade Grand Launch was held right now on the Maritime Museum Central, Hong Kong.

Dr. Xiao Feng, Chairman and CEO of HashKey Group, introduced the official launch of HashKey Trade and its retail buying and selling companies. Mr. Lu Weiding, Chairman of Wanxiang Group, joined 10 distinguished company in turning the symbolic “helm,” marking the beginning of Hong Kong’s Web3 period.

Joseph Chan Ho-lim, JP, Undersecretary for Monetary Companies and the Treasury, Dr. Jimmy Chiang, Affiliate Director, InvestHK, Norman Chan Tak-lam, GBS, JP, Chairman, Hong Kong Web3 Affiliation delivered their speeches, extending their congratulations to HashKey Trade for its official launch and providing insights into the event of the Web3 business in Hong Kong.

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