Blockchain firm HashKey has received a virtual asset license in Hong Kong – the first in two years – in the midst of the city’s fresh ambitions to become a crypto hub.
Hash Blockchain, a subsidiary of Hong Kong-headquartered HashKey Group, has received approval from the Securities and Futures Commission (SFC) to operate a virtual asset trading platform for professional investors, according to a statement.
This marks the first crypto license issued in nearly two years and follows the local government’s refreshed commitments to develop the city as a virtual asset hub, announced during the Hong Kong Fintech Week.
«The recent policy statement is a testament to the Hong Kong government’s dedication and commitment to fortify the city’s status as a frontrunner and leader in blockchain and virtual asset innovation and regulation,» said HashKey Group executive president Michel Lee.
HashKey PRO
Following the SFC’s approval, Hash Blockchain will roll out an institutional-grade virtual asset trading platform – HashKey PRO – which targets professional investors. Trading services will cover popular cryptocurrencies like Bitcoin or Ether as well as stablecoins, security tokens and other «innovative assets».
In addition, the firm also segregates client assets by holding them in custody through its licensed trust service provider HashKey Custody Services, which it noted was «unlike other unregulated crypto trading platforms».
«One of the focuses of HashKey’s virtual asset exchange will be on the tokenization of non-traditional assets, leveraging the robust ecosystem HashKey has developed over the years,» said Hash Blockchain chief executive Colin Zhong.
