OKX Launches Updated App for Spot Trading of Virtual Assets in Hong Kong

• OKX has set up a local corporation in Hong Kong to submit its application for a license.
• The exchange has been working on improving its operations over the last year.

To facilitate secure spot trading of virtual assets in Hong Kong, OKX, the world’s second-largest cryptocurrency exchange by trading volume, and a leading Web3 technology business, has published an updated version of its app.

In a recent announcement, the Hong Kong exchange revealed that BTC, ETH, ADA, MATIC, SOL, DOT, UNI, LINK, SAND, LTC, AVAX, AXS, ATOM, XLM, USDT, and USDC are all listed tokens for retail investors. Users of the applications may trade in, purchase, and convert between 16 different cryptocurrencies.

Tokens may be acquired using Hong Kong dollars (HKD), P2P, or via third-party providers using Apple Pay, Visa, or Mastercard.

Eyeing Hong Kong Expansion

OKX has set up a local corporation in Hong Kong to submit its application for a license before the new regulatory framework for VASPs goes into effect on June 1, 2023. OKX has been working on improving its operations and controls over the last year in preparation for potential regulatory oversight.

The city’s goal is to become a vibrant center for digital assets that help the government achieve its policy goals. To demonstrate that it can live up to the rigorous standards required of certified VASPs, the firm works closely with governing bodies to present its security measures, custody solutions, anti-money laundering (AML) processes, and compliance competencies.

OKX Global Chief Commercial Officer Lennix Lai reaffirmed the firm’s dedication to ensuring the safety and convenience of its customers during an interview. During the licensing process under the new VASP framework, Lai reaffirmed OKX’s commitment to collaborating closely with authorities.

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