Miguel Cordon · · 1 min readHashKey wins off-platform virtual asset trading license in HK
Source: tzido / 123RF
HashKey Group, a digital asset financial services provider in Asia, said it has obtained approval from the Securities and Futures Commission of Hong Kong (SFC) to conduct cryptocurrency OTC (over-the-counter) trading in the island.
The approval allows Hash Blockchain Limited (HBL) to act as an intermediary to facilitate trades between crypto traders and liquidity providers without needing a central exchange.
Colin Zhong, CEO of HBL, believes that regulating the OTC market can make trading digital assets more secure and transparent for investors in Hong Kong.
HashKey Group previously received approval from the SFC to operate a virtual asset trading platform and automated trading services through HBL.
Aside from the SFC, HashKey Group also has a license from the Financial Services Agency of Japan. It also received in-principle approval for a capital market services license from the Monetary Authority of Singapore.
Earlier this week, the Hong Kong government announced that it has set aside about US$6.4 million to expand its local Web3 ecosystem.
See also: Will deposit tokens put stablecoin issuers out of business?
Editing by Thu Huong Le and Lorenzo Kyle Subido
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