HashKey Group Chief Operating Officer, Weng Xiaoqi, disclosed in an interview that it has acquired Bermuda’s “Comprehensive Digital Asset Investor Protection System License,” and the company will launch the HashKey global trading platform today.
The platform can offer qualified retail investors more than twenty currencies during the first phase. Within a quarter, additional future products are anticipated to be launched.
Weng hopes that in the future, the information and knowledge gained from managing these products will aid in streamlining the Hong Kong Securities and Futures Commission’s approval procedure and advancing the creation of Hong Kong’s regulatory framework.
As per the current framework, a retail investor must have a bank account in a designated area to open an account on this platform in Hong Kong.
About 170,000 users use the HashKey Exchange in Hong Kong, and there is an estimated four times potential interest among those who do not fit the current criteria. The platform was established to take advantage of this unrealized potential by enabling direct trading with stable currencies like USDT and USDC.
He clarified that HashKey Exchange, licensed in Hong Kong, targets local and nearby markets with institutional clients. On the other hand, HashKey Global serves retail investors unable to access the Hong Kong market, excluding mainland China, the US, and nations banning virtual asset platforms. Its customer base is expected to comprise overseas Chinese and Southeast Asian users.
The HashKey applied to the Securities and Futures Commission last year to add four new currents, which is still not approved. Due to this, Hong Kong retail investors can only trade Bitcoin and Ethereum.
Looking ahead, Weng Xiaoqi emphasized HashKey’s commitment to conducting licensed exchange operations. They aim to secure additional licenses and expand globally over the next five years, focusing on the Asia-Pacific region.
He also expressed that Weng Xiaoqi highlighted the advantages of being licensed in Hong Kong, noting that HashKey Global benefits from the established user protection framework in the region. Moving forward, HashKey plans to maintain Hong Kong as its central base.
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