HashKey officially launches as Hong Kong’s first retail crypto exchange

HashKey Exchange has officially opened its doors, marking its entry as the first licensed retail virtual asset exchange in Hong Kong.

HashKey Exchange, Hong Kong’s first licensed retail virtual asset exchange, has officially commenced operations. The launch event was a collaborative effort among representatives from the Hong Kong Special Administrative Region (HKSAR) government, major banking institutions, insurance companies, and Big 4 auditing firms.

You might also like: HashKey to debut Bitcoin and Ethereum retail trading in Hong Kong

The HashKey Exchange platform allows for direct bank transfers in both USD and HKD and cryptocurrencies and operates on the “HEX Engine,” system designed to support up to 5,000 transactions per second (TPS).

Regulated by the Hong Kong Securities and Futures Commission (SFC), HashKey Exchange has implemented a required regulatory framework, including stringent user admission processes, anti-money laundering protocols, and transaction monitoring systems.

Upon its launch, HashKey Exchange has temporarily eliminated trading fees and has indicated intentions to broaden its offerings in the future.

Read more: Largest ETF manager in Hong Kong analyzes crypto possibilities
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

Genesis-Parent DCG Agrees to Settle Creditors' Claims

Image
Earlier this year in January 2023, Genesis filed for Chapter 11 bankruptcy after facing a major liquidity crisis following the collapse of crypto exchange FTX. The recent filing from Genesis parent DCG notes that the bankrupt crypto lender holds liabilities of $630 million in unsecured loans due in May 2023. Additionally, it also has a $1.1 billion unsecured promissory note due in 2032. advertisement As per the in-principle deal, the Digital Currency Group ( DCG ) is looking to undertake new debt facilities along with a repayment agreement. This will include a $328.8 million first-lien facility along with 2-year maturity. Additionally, it will also include a $830 million second-lien facility with a 7-year maturity. The filing notes that DCG is planning to pay a total of $275 million to its creditors in four installment payments. If executed, the proposed plan could lead to anticipated returns of approximately 70% to 90% for unsecured creditors in terms of U.S.
Read more

Silicon Valley Bank Reportedly Deactivates Twitter Account

Image
Following its closure last week, Silicon Valley Bank has reportedly deactivated its Twitter Account. Conversely, Twitter user @DrEliDavid reported the bank’s last post regarding their pride in making Forbes annual America’s Best banks for the fifth consecutive year. Alternatively, the financial institution has been auctioned off by the FDIC today. Subsequently, a purchase of the now-collapsed financial institution could arrive by Sunday night. Thus far, The Bank of London has been the only entity publicly reported to submit an official proposal. JUST IN: Silicon Valley Bank $SIVB reportedly deactivated its Twitter account. pic.twitter.com/vTkk1QK3zk — Watcher.Guru (@WatcherGuru) March 12, 2023 SVB Deactivates its Twitter Account The entire financial sector has been struck with panic, as SVB Financial was closed by California regulators last week. Moreover, the collapse signifies the largest bank failure since the 2008 financial crisis. Conversely, as the proc
Read more

Gemini Foundation, A Non-US Derivative Platform Goes Live

Image
Join Our Telegram channel to stay up to date on breaking news coverage A US-based crypto company, Gemini, has officially launched international derivative trading to serve around 29 countries and territories outside the United States. Gemini Foundation, the much-anticipated non-US derivative platform, has gone live and allows its customers to trade spot and derivative products. However, the new service targets retail and institutional traders, excluding US, UK and EU customers. 1/ We’re thrilled to announce that Gemini Foundation’s derivatives platform is now live with our BTC/GUSD perpetual contract trading across 30 countries. https://t.co/NyQLKhsZYt — Gemini (@Gemini) May 2, 2023 Nonetheless, some of the jurisdictions eligible for the services include Singapore, Hong Kong, India, Argentina, Bahamas, Bermuda, British Virgin Islands (BVI), Bhutan, Brazil, Cayman Islands, Chile, Egypt, El Salvador, Guernsey, Israel, Jersey, New Zealand, Nigeria, Panama, Peru, Philippines, S
Read more