OKX Exchange lists BTC, ETH, ADA, MATIC, SOL, DOT, UNI, LINK, SAND, LTC, AVAX, AXS, ATOM, XLM, USDT, and USDC for Hong Kong Retail Investors
OKX has announced its latest move to enhance its services for retail investors in Hong Kong. The exchange has introduced an upgraded app that allows users in Hong Kong to safely and securely engage in spot trading of virtual assets, complying with the city’s requirements for virtual asset service providers (VASPs).
The OKX app now enables Hong Kong users to buy, sell, and hold 16 major cryptocurrencies, including popular tokens such as BTC, ETH, ADA, MATIC, SOL, DOT, UNI, LINK, SAND, LTC, AVAX, AXS, ATOM, XLM, USDT, and USDC. The availability of these tokens provides a diverse range of investment options for retail investors in Hong Kong.
Adhering to the high standards set for traditional exchanges in Hong Kong, the OKX app prioritizes security, advanced trading technology, and robust risk controls. This ensures that users can engage in cryptocurrency trading with confidence, knowing that their assets and transactions are well-protected.
Earlier this year, OKX established a Hong Kong entity in preparation for the upcoming regulatory regime for VASPs, which will be effective from June 1, 2023. The exchange has been proactively upgrading its operations and implementing stringent controls for over a year to meet the anticipated regulatory requirements. OKX is actively collaborating with Hong Kong authorities, demonstrating its commitment to fulfilling the rigorous regulatory standards required for licensed VASPs.
One notable aspect of OKX’s transparency is its monthly publication of its crypto holdings through its Proof of Reserves. By implementing zk-STARK zero-knowledge technology, OKX enables users to independently verify the exchange’s solvency and confirm that their assets are backed by OKX reserves. The latest Proof of Reserves report from April showcased holdings of $10.4 billion in Bitcoin, Ethereum, and USDT.
Lennix Lai, the OKX Global Chief Commercial Officer, emphasized the company’s dedication to providing a secure and user-friendly crypto trading experience to everyone in Hong Kong. Lai stated, “At OKX, we are committed to offering users the most secure and intuitive crypto trading experience, in line with the latest requirements from the Hong Kong government.” He further expressed OKX’s determination to collaborate with Hong Kong regulators and contribute to the city’s aspirations of becoming a thriving digital assets hub.
Through the OKX app, Hong Kong users can conveniently buy, sell, and convert 16 major virtual assets, including BTC, ETH, and various others. The tokens can be acquired using Hong Kong dollars through peer-to-peer (P2P) transactions or via third-party providers such as ApplePay, Visa, and Mastercard. OKX plans to introduce additional features in the coming months to enhance and diversify the user experience, aligning with the guidance provided by the Hong Kong Securities & Futures Commission.
Having achieved a trading volume surpassing $1 trillion since its establishment in 2017, OKX has garnered a reputation for providing institutional-grade security and compliance. With its latest efforts to cater to the needs of retail investors in Hong Kong, OKX aims to solidify its position as a leading cryptocurrency exchange while supporting the city’s policy goals of fostering a thriving digital assets ecosystem.
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