- Hong Kong has issued its first cryptocurrency license under new crypto regulations.
- Hashkey Exchange is the first company to receive this license.
- The crypto exchange will serve both professional investors and individual customers.
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In a significant move under new cryptocurrency regulations, Hong Kong has granted its first crypto license to Hashkey Exchange, which will cater to both professional and individual investors.
Hong Kong’s First Cryptocurrency License
In a landmark decision, Hashkey Exchange, a crypto asset exchange under the Hashkey Group, has been awarded the first cryptocurrency license in Hong Kong. This move is part of Hong Kong’s strategy to establish itself as a hub for cryptocurrency. The new crypto rules in the city-state will also cover Hashkey Exchange.
Hashkey’s Ambition to Serve Individual Investors
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Hashkey Exchange has successfully completed a simplified process to upgrade its license. The company has announced its intention to expand its scope of business from professional investors to individual investors. The company aims to provide secure crypto trading and storage services and wants to meet market demand for a licensed platform.
Expansion and Future Plans
Hashkey Group had plans to open a regulated exchange to serve individual investors in the second quarter. The company was planning a funding round based on a valuation of $1 billion. In April, the company launched an asset management platform for professional and corporate investors. Deng Chao, CEO of Hashkey Capital, the venture capital arm of the Group, announced that the new service would offer solutions for the opportunities of digital assets.
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This development marks a significant step in Hong Kong’s efforts to position itself as a leading hub for cryptocurrency. The granting of the first crypto license to Hashkey Exchange under the new regulations signals the city-state’s commitment to fostering a regulated and secure environment for both professional and individual investors in the crypto market.