- Hong Kong’s first licensed cryptocurrency exchange, Hashkey, has started accepting individual users.
- The exchange is licensed to offer trading services to professional investors in Bitcoin, Ether, and USDT, with MATIC and AVAX soon to be listed for professional traders only.
- Hashkey aims to reach 500,000 to 1 million users worldwide by the end of the year, and 10 million users by 2025.
Hashkey, Hong Kong’s inaugural licensed cryptocurrency exchange, has begun onboarding individual users, with a goal to reach a user base ranging from 500,000 to 1 million by year’s end, and 10 million by 2025.
Hashkey: A New Era for Cryptocurrency in Hong Kong
Marking a significant milestone in Hong Kong’s cryptocurrency landscape, Hashkey has become the first licensed cryptocurrency exchange in the region. The platform has recently started accepting individual users, allowing them to trade major cryptocurrencies such as Bitcoin, Ether, and USDT directly with the US Dollar. Furthermore, the exchange has announced plans to list MATIC and AVAX soon, although these will be exclusively available to professional traders.
Regulatory Approval and Future Plans
Hashkey, along with OSL, received its license from the Securities and Futures Commission (SFC), Hong Kong’s regulatory body, about a month ago. This move was part of a larger initiative announced last October aimed at attracting businesses and establishing the region as a global hub for cryptocurrency. As per the licensing requirements, the services offered to individual investors will be limited to major cryptocurrencies, and leveraged trading will not be permitted.
Hashkey’s Ambitious User Growth Targets
The COO of Hashkey Group, Livio Weng, has expressed ambitious growth targets for the exchange. In a recent press statement, he revealed that the platform aims to attract between 500,000 and 1 million users worldwide by the end of this year, and hopes to expand this to 10 million by 2025. Hashkey estimates that there are currently 1 million cryptocurrency investors in Hong Kong.
Conclusion
In conclusion, the launch of Hashkey as Hong Kong’s first licensed cryptocurrency exchange marks a significant step forward for the region’s cryptocurrency sector. With ambitious growth targets and a focus on regulatory compliance, Hashkey is poised to play a crucial role in establishing Hong Kong as a global hub for cryptocurrency trading.
