HashKey Alternate, the primary licensed retail digital asset change registered in Hong Kong, introduced its official launch at this time. Along with executives from the HKSAR authorities, top-tier banks, insurers, and Massive 4 auditing companies, HashKey held the grand launch in Hong Kong.
Strictly adhering to the SFC’s person registration and KYC necessities, the HashKey Alternate platform helps USD and HKD fiat deposits and withdrawals, and can initially assist buying and selling in BTC/USD, and ETH/USD, with plans to introduce extra markets following regulatory pointers.
The change, which obtained approval again in November of 2022 is providing a zero-fee promotion, delivering all customers zero fee buying and selling on all transactions.
Hong Kong’s First Licensed Retail Digital Asset Alternate
Livio Weng, COO of HashKey Group, unveiled the next-generation high-performance buying and selling system, the “HEX Engine,” supporting 5,000 transactions per second (TPS).
Weng additionally introduced a complete improve to institutional enterprise options, providing sturdy API interfaces and enhanced account administration options (together with the Omnibus Account) to offer brokerage and institutional purchasers with deeper buying and selling liquidity and smoother experiences.
As a licensed entity below the Hong Kong Securities and Futures Fee, HashKey Alternate has devoted substantial assets to establishing a local compliance product framework.
Protecting a complete spectrum together with person admission inspection, anti-money laundering (AML) inspection, transaction monitoring, and mental property (IP) oversight, creating an entire regulatory closed-loop system. This technique spans the whole lot of inner operational processes, guaranteeing a sturdy compliance safeguard for traders.
Alternate Options:
- Fiat Foreign money Deposits & Withdrawals: In partnership with main business banks, HasKey provides USD/HKD fiat foreign money deposit and withdrawal providers, permitting direct transfers between financial institution accounts and HashKey fiat accounts. Direct USD and HKD transfers from financial institution accounts are supported.
- Fiat Buying and selling Pairs: Offering retail clients with fiat buying and selling pairs corresponding to BTC/USD and ETH/USD, with plans to assist extra fiat currencies and pairs, together with HKD sooner or later.
- Licensed Custody: Unbiased licensed custody system topic to common inspections by the securities regulators. HashKey holds a TCSP (Belief or Firm Service Supplier) license.
- Chilly and Sizzling Pockets Separation: 98% of digital belongings are saved in chilly wallets and a pair of% in scorching wallets, guaranteeing the safety of the vast majority of belongings.
- Asset Insurance coverage: HashKey Alternate pioneers within the business by introducing skilled insurance coverage establishments to offer insurance coverage for consumer belongings below custody.
- Authoritative Auditing: The platform strictly adheres to regulatory necessities, present process audits and compliance checks by the Massive 4 accounting companies, absolutely complies with numerous regulatory provisions, establishing itself as one of the vital safe exchanges globally.
Setting Sail within the Web3 Period in Hong Kong
The HashKey Alternate Grand Launch was held at this time on the Maritime Museum Central, Hong Kong.
Dr. Xiao Feng, Chairman and CEO of HashKey Group, introduced the official launch of HashKey Alternate and its retail buying and selling providers. Mr. Lu Weiding, Chairman of Wanxiang Group, joined 10 distinguished company in turning the symbolic “helm,” marking the beginning of Hong Kong’s Web3 period.
Joseph Chan Ho-lim, JP, Undersecretary for Monetary Companies and the Treasury, Dr. Jimmy Chiang, Affiliate Director, InvestHK, Norman Chan Tak-lam, GBS, JP, Chairman, Hong Kong Web3 Affiliation delivered their speeches, extending their congratulations to HashKey Alternate for its official launch and providing insights into the event of the Web3 business in Hong Kong.
