On 28 August 2023, HashKey Exchange, the city’s first licensed retail virtual asset exchange (crypto exchange), commenced operations today. The official launch, hosted at the Maritime Museum Central, was attended by key figures from the HKSAR government, leading banks, insurance entities, and representatives from the Big 4 auditing firms.
The platform, which supports direct bank transfers in both USD and HKD, introduced initial fiat trading pairs such as BTC/USD, ETH/USD, and USDT/USD. Joseph Chan Ho-lim, JP, Undersecretary for Financial Services and the Treasury, and Norman Chan Tak-lam, GBS, JP, Chairman of the Hong Kong Web3 Association, were among the notable speakers who shed light on the evolving landscape of the Web3 industry in Hong Kong.
Livio Weng, COO of HashKey Group, highlighted the capabilities of the HEX Engine, a robust system designed to handle up to 5,000 transactions per second (TPS). Emphasizing compliance, HashKey Exchange operates under the stringent guidelines set by the Hong Kong Securities and Futures Commission. This includes rigorous user admission protocols, anti-money laundering measures, and consistent transaction monitoring. Additionally, the platform has fortified its security measures, storing 98% of its digital assets in cold wallets. To ensure transparency and adherence to regulatory standards, regular audits are conducted by the Big 4 accounting firms.
In celebration of its inauguration, HashKey Exchange is offering a temporary waiver on trading fees and has introduced the “HashKey Grand Launch Festival,” providing added benefits for its new user base.
HashKey Exchange, a subsidiary of HashKey Group, stands as the pioneer in Hong Kong, having received the green light for virtual asset trading for retail users from the Securities and Futures Commission (SFC). HashKey Group, a prominent digital asset financial service provider in Asia, delivers a comprehensive suite of services, ranging from trading to Web3 infrastructure, with operations spanning Hong Kong, Singapore, and Japan.
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