HashKey Granted OTC Trading License in Hong Kong

HashKey Granted OTC Trading License in Hong Kong

Time Stamp: February 24, 2023 6:36 AM
  1. HashKey Group obtains approval to operate off-platform virtual asset trading in Hong Kong.
  2. The license allows HashKey to offer clients OTC services for crypto and other digital assets.
  3. HashKey’s clearance shows its dedication to secure trade.

According to recent sources, HashKey Group, a prominent Asian provider of financial services for digital assets, has obtained clearance from Hong Kong’s Securities and Futures Commission to operate an off-platform virtual asset trading company (“OTC”). 

The reports went on to say that HashKey Group is the second exchange in Hong Kong to be granted a compliance license.

With the license, HashKey can now offer its clients OTC services for cryptocurrencies and other digital assets, including Bitcoin and Ethereum. 

Additionally, the clearance demonstrates HashKey’s dedication to providing customers with a safe and secure trading environment. SFC guarantees that enterprises under its jurisdiction comply with rigorous expectations of transparency, security, and integrity.

On the other hand, Michel Lee, Executive President of HashKey Group, is depicted in a HashKey blog post on its official page expressing his gratitude regarding the Securities and Future Commission approval.

“We are thrilled to receive the approval from the SFC,” said Michel Lee.

Further, he remarked that HashKey’s expertise in the OTC market has been valuable and that, thanks to this clearance, clients can now deal with a Hong Kong-licensed corporation.

Colin Zhong, CEO of HashKey Group, also emphasized the importance of regulatory oversight in the OTC market in Hong Kong. He purported that in contrast to the murky and unregulated over-the-counter (OTC) market, a regulated exchange would provide a safer and more precise setting for investors to trade digital assets.

Zhong believes that HashKey’s commitment to fostering greater trust and confidence among investors will help attract a broader base of participants to the market and facilitate the mainstream adoption of digital assets.

Ultimately, with the SFC’s endorsement, HashKey will endeavor to establish a precedent for offering its customers best-in-class regulatory compliance digital asset products.

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Tags: Crypto marketHashKeySFC

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

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