HashKey Exchange, the first licensed retail virtual asset exchange registered in Hong Kong, announced its official launch today. Together with executives from the HKSAR government, top-tier banks, insurers, and Big 4 auditing firms, HashKey held the grand launch in Hong Kong.

Strictly adhering to the SFC’s user registration and KYC requirements, the HashKey Exchange platform supports USD and HKD fiat deposits and withdrawals, and will initially support trading in BTC/USD, and ETH/USD, with plans to introduce more markets following regulatory guidelines.

The exchange, which received approval back in November of 2022 is offering a zero-fee promotion, delivering all users zero commission trading on all transactions.

Hong Kong’s First Licensed Retail Virtual Asset Exchange

Livio Weng, COO of HashKey Group, unveiled the next-generation high-performance trading system, the “HEX Engine,” supporting 5,000 transactions per second (TPS).

Weng also announced a comprehensive upgrade to institutional business solutions, offering robust API interfaces and enhanced account management features (including the Omnibus Account) to provide brokerage and institutional clients with deeper trading liquidity and smoother experiences.

As a licensed entity under the Hong Kong Securities and Futures Commission, HashKey Exchange has devoted substantial resources to establishing a native compliance product framework.

Covering a comprehensive spectrum including user admission inspection, anti-money laundering (AML) inspection, transaction monitoring, and intellectual property (IP) oversight, creating a complete regulatory closed-loop system. This system spans the entirety of internal operational processes, ensuring a robust compliance safeguard for investors.

Exchange Features:

• Fiat Currency Deposits & Withdrawals: In partnership with leading commercial banks, HasKey offers USD/HKD fiat currency deposit and withdrawal services, allowing direct transfers between bank accounts and HashKey fiat accounts. Direct USD and HKD transfers from bank accounts are supported.
• Fiat Trading Pairs: Providing retail customers with fiat trading pairs such as BTC/USD and ETH/USD, with plans to support additional fiat currencies and pairs, including HKD in the future.
• Licensed Custody: Independent licensed custody system subject to regular inspections by the securities regulators. HashKey holds a TCSP (Trust or Company Service Provider) license.
• Cold and Hot Wallet Separation: 98% of digital assets are stored in cold wallets and 2% in hot wallets, ensuring the security of the majority of assets.
• Asset Insurance: HashKey Exchange pioneers in the industry by introducing professional insurance institutions to provide insurance for client assets under custody.
• Authoritative Auditing: The platform strictly adheres to regulatory requirements, undergoing audits and compliance checks by the Big 4 accounting firms, fully complies with various regulatory provisions, establishing itself as one of the most secure exchanges globally.

Setting Sail in the Web3 Era in Hong Kong

The HashKey Exchange Grand Launch was held today at the Maritime Museum Central, Hong Kong.

Dr. Xiao Feng, Chairman and CEO of HashKey Group, announced the official launch of HashKey Exchange and its retail trading services. Mr. Lu Weiding, Chairman of Wanxiang Group, joined 10 distinguished guests in turning the symbolic “helm,” marking the start of Hong Kong’s Web3 era.

Joseph Chan Ho-lim, JP, Undersecretary for Financial Services and the Treasury, Dr. Jimmy Chiang, Associate Director, InvestHK, Norman Chan Tak-lam, GBS, JP, Chairman, Hong Kong Web3 Association delivered their speeches, extending their congratulations to HashKey Exchange for its official launch and offering insights into the development of the Web3 industry in Hong Kong.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• Source: https://www.cryptoninjas.net/2023/08/28/hashkey-exchange-hong-kongs-first-licensed-crypto-exchange-is-now-live/