By Staff Writer
HashKey Pro, HashKey Group’s digital asset trading platform, announced its submission of a license application to the Hong Kong Securities and Futures Commission aiming to operate a virtual asset trading platform in Hong Kong.
HK securities regulator has officially announced the new licensing regime for “virtual asset trading platforms” during Hong Kong FinTech Week on November 6, 2019.
The move is seen as highly significant as it provides regulatory clarity for trading platforms to scale their business, HashKey said in a statement.
Michel Lee, executive president of HashKey Group, welcomed the SFC’s announcement of regulatory clarity for virtual asset trading platforms.
“The SFC’s framework focuses on protecting investors, ensuring safe asset custody and market integrity, all of which will play an extremely important role for FinTech, blockchain and digital asset industries in Hong Kong and Asia,” Lee said in the statement.
HashKey Group and its digital asset trading platform, HashKey Pro, are excited by the new opportunities ahead, he said.
In March 2019, HashKey Group organized Hong Kong’s first institutional and professional investor-focused HashKey International Digital Asset Summit and a series of Digital Asset Intelligence education seminars co-hosted with Hong Kong’s leading professional FinTech organization, the FinTech Association of Hong Kong.
In addition, HashKey Pro was selected by Blockstack, the world’s first U.S. Securities and Exchange Commission – regulated blockchain network, to be Blockstack’s key partner for expanding investor diversity, given HashKey Group’s expertise in blockchain technology and access to market participants such as, high net-worth individuals, institutional investors, professional investors, and small-to-medium size funds.