HashKey Group to Launch BTC and ETH Trading Services in Hong Kong
HashKey Group, a crypto exchange, is set to introduce Bitcoin (BTC) and Ethereum (ETH) trading services for its Hong Kong customers on August 28. In an interview, HashKey’s COO Weng Xiaoqi stated that the exchange business will start offering retail trading services for crypto. Here are the key points:
1. HashKey chose to start with BTC and ETH due to their large circulation and low risk.
2. The exchange is considering offering margin and derivative products if approved by Hong Kong’s SFC.
3. HashKey is in talks with major Hong Kong banks to integrate fiat currencies, including HKD and USD.
4. It is also discussing partnerships with brokerage firms for its crypto trading services.
5. HashKey plans to implement an investor rating system based on KYC, placing restrictions on novices while giving experienced traders more flexibility.
The company aims to prevent users from countries like mainland China, where crypto trading is prohibited, from registering for its services. HashKey became the first crypto exchange to receive clearance from Hong Kong regulators to offer retail services. OSL, another exchange in the city, also received permission to provide retail crypto trading services for BTC and ETH.
Hot Take:
HashKey’s entry into the crypto trading market in Hong Kong is a significant development. By starting with BTC and ETH, the exchange targets the most popular cryptocurrencies while minimizing risk. The integration of fiat currencies and the investor rating system show HashKey’s commitment to providing a seamless and secure trading experience for its customers. This move is expected to further promote the adoption and acceptance of cryptocurrencies in Hong Kong.
By
By
By
By
By