Hong Kong’s HashKey Launches Groundbreaking Licensed Virtual Asset Exchange App
HashKey has received approval from the Hong Kong Securities and Futures Commission to launch a full-fledged mobile trading application, marking the introduction of the first licensed virtual asset exchange app in Hong Kong. This milestone is a reflection of HashKey’s commitment to compliance, safety, and security in the virtual asset trading landscape.
Livio Weng, the Chief Operating Officer of HashKey Group, expressed the company’s excitement about this achievement and emphasized the importance of the regulatory environment in Hong Kong. He stated, “In the year since the Hong Kong government released its ‘Policy Statement on the Development of Virtual Assets in Hong Kong,’ we have witnessed the implementation of VASP (Virtual Asset Service Provider) policies. Following the recent industry turmoil, this launch also means Hong Kong now has an app that is compliant, safe, and smooth for trading.”
HashKey Exchange places a strong emphasis on security features, including safe asset custody, independent audits, and insurance coverage, to ensure that users’ assets are protected. Weng highlighted this commitment, addressing concerns within the industry regarding asset security.
What sets HashKey apart is its licensing advantage, allowing it to establish fiat on-and-off ramps with multiple banks, including Hong Kong issuing banks. Users can now directly deposit Hong Kong Dollars or US Dollars using their bank cards, alleviating concerns about the freezing of bank accounts.
Since its inception, HashKey Exchange has gained significant traction, accumulating a total trading volume exceeding $600 million US dollars. Notably, the fiat trading zone has become a distinctive feature, with the HKD/USD trading pair witnessing substantial volumes in the past 30 days.
Weng pointed out that the HashKey Exchange App’s user experience has been significantly improved. The application aims to break the stereotype that licensed exchanges are difficult to use by simplifying processes such as Know Your Customer (KYC) requirements, reducing the time required from 28 minutes to just 8 minutes.
“The HashKey Exchange App is a brand new paradigm for centralized exchanges. With its launch, it marks the shift of licensed exchanges from niche to mainstream, which will be a monumental moment in the evolution of virtual asset exchanges,” Weng declared.
In tandem with the app launch, HashKey Exchange has chosen HSK as its platform token. HSK is designed to incentivize ecosystem contributors and expand its application scenarios, catering to institutional users, professional investors, retail users, and communities. This strategic move solidifies support for the expansion of the HashKey ecosystem.
HSK, also known as HashKey EcoPoints, is an ERC-20 Token released by HashKey Group. The company has unveiled an HSK roadmap, detailing an economic model closely tied to the interests of ecosystem contributors. HSK holders will enjoy benefits such as fee discounts and specific rights related to asset issuance.
HashKey Group also announced its intention to explore innovative asset issuance services based on compliance advantages, with plans to launch a globally leading asset issuance platform for high-quality assets, thereby empowering HSK holders.
To celebrate the app launch, HashKey Exchange is offering a zero trading fee campaign during the launch period, waiving trading fees for all clients. New users registering through the HashKey Exchange App will receive HSK rewards, while additional rewards can be obtained through referral campaigns. Ambassadors and users participating in KYC can also earn extra rewards, with a limited-time opportunity for doubling HSK rewards.
The HashKey Exchange App is available for download on both iOS and Android platforms, offering a safe, compliant, and user-friendly trading experience.
The launch of HashKey Exchange’s app coincides with the 2023 Hong Kong FinTech Week, an event dedicated to showcasing the power of innovation, the implementation of virtual asset-friendly policies, and exploring future fintech application scenarios. HashKey’s collaboration with Web3 builders aims to accelerate industry innovation and compliant development, ultimately contributing to the growth of the Web3 economy.
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