Miguel Cordon · · 1 min readHashKey becomes first licensed Hong Kong exchange to serve retail users
Photo credit: HashKey Group
HashKey Exchange, a Hong Kong-based crypto platform, said it has become the first licensed exchange to offer retail and professional services in the market after obtaining Type 1 and Type 7 licenses from the city’s Securities and Futures Commission (SFC).
The license upgrade follows the SFC’s new regulatory framework for crypto platforms. Released in June, it aims to increase transparency and investor protection in the crypto industry.
The company said it has partnered with Standard Chartered Bank to provide fiat currency withdrawals and deposits, and plans to forge more partnerships with other banks for these services.
HashKey Exchange is part of HashKey Group, a digital asset-focused financial services provider in Asia. Apart from the crypto exchange, the group offers solutions such as venture capital investing and Web3 infrastructure services.
The exchange also launched HashKey Brokerage, an over-the-counter trading service for bulk trading. In February this year, HashKey Group said it had won SFC’s approval to offer this service.
The group previously received the agency’s green light to operate a virtual-asset trading platform and automated trading services through Hash Blockchain Limited.
See also: Crypto regulation heat map: Where does your country rank?
Editing by Dhania Putri Sarahtika
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