Key Points:
- HashKey Exchange has opened Bitcoin (BTC) and Ethereum (ETH) deposit, withdrawal, and trading services for retail investors.
- HashKey claims not to exercise voting rights regarding virtual assets on behalf of users.
- This is a significant turning point marking the openness of the Hong Kong market to retail crypto investors.
HashKey Exchange, the first licensed Virtual Asset Platform by the Hong Kong Securities Regulatory Commission, has announced that it has officially opened BTC/USD and ETH/USD trading pairs to retail investors.
HashKey Exchange also states that they do not exercise voting rights regarding virtual assets on behalf of their users and that users wishing to exercise any voting rights regarding their virtual assets must withdraw their respective assets from the platform.
Recently, HashKey Exchange, part of HashKey Group, became the first company to be licensed in Hong Kong after the policy of allowing crypto trading was applied in Hong Kong from June 1, 2023. The platform also previously planned to go live on August 28, 2023. Retail investors can invest in Bitcoin and Ethereum and will limit investment in virtual assets to no more than 30 % of total assets.
The coins that are allowed to be traded on HashKey Exchange include BTC, ETH, USDT, USDC, and only Spot trading. This aligns with Hong Kong’s strict licensing criteria, which only allow a small number of coins to be listed, mainly large-cap coins such as BTC, ETH, BCH, LTC, etc.
In addition, Standard Chartered Bank is a banking partner of HashKey Exchange, supporting users of the exchange with fiat deposits and withdrawals. Previously, HSBC was the first bank to allow customers to buy and sell Bitcoin and Ethereum ETFs.
Since Hong Kong announced allowing individuals to trade crypto, HashKey Exchange and many other big names, such as OKX, Huobi, BitMEX, etc., have quickly applied for a license. However, HashKey has become the fastest competitor in upgrading to class 1 and class 7 licenses, allowing trading services to be provided to individual investors.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/213880-hashkey-exchange-launched-btc-usd-eth-usd/