HashKey Group receives green light for OTC trading outside of virtual asset platform
On February 24, the digital asset financial service provider HashKey Group (\”HashKey\”) announced that it had obtained the approval of the Hong Kong Securities …
On February 24, the digital asset financial service provider HashKey Group (“HashKey”) announced that it had obtained the approval of the Hong Kong Securities and Futures Commission (“SFC”), and its Hash Blockchain Limited (“HBL”) could carry out the over-the-counter trading (OTC) business outside the virtual asset platform.
HashKey Group is approved by the Hong Kong Securities Regulatory Commission to carry out virtual asset over-the-counter trading (OTC)
Interpretation of the news:
HashKey Group, a digital asset financial service provider, has successfully obtained the approval of the Hong Kong Securities and Futures Commission (SFC), allowing its Hash Blockchain Limited (HBL) to operate over-the-counter trading (OTC) business outside of a virtual asset platform.
The approval will allow the company to offer OTC trading services for digital assets such as Bitcoin, Ethereum, and Litecoin, among others, to institutional and accredited investors, including hedge funds, family offices, and asset managers. OTC trading enables buyers and sellers to conduct transactions directly with one another, without the need for an exchange, and is typically more private and less regulated than traditional exchange trading.
The HashKey Group has been actively seeking to diversify its services beyond its existing virtual asset exchange, promoting the development of digital asset management tools and advocating for increased engagement with digital asset communities around the world. This move aligns with the company’s stated mission of providing professional and secure digital asset services to institutional clients.
As a strategic location and a crucial financial center in Asia, Hong Kong has been playing a key role in the development of digital asset services. With the approval of the SFC, the HashKey Group has demonstrated its ability to comply with Hong Kong’s strict regulatory requirements for financial services providers.
The approval also marks a significant milestone for the company, as it seeks to expand its presence in the digital asset market and provide a wider range of services to its clients. As institutional investors continue to show growing interest in the potential of digital assets as an asset class, a reliable and trusted OTC platform is increasingly seen as a crucial component of a diversified investment portfolio.
In conclusion, the approval of the Hong Kong Securities and Futures Commission is a significant milestone for the HashKey Group, as the company seeks to expand its services outside of its existing virtual asset exchange. With this approval, the company can offer its institutional clients a secure and reliable OTC trading platform for digital assets, further reinforcing its position as a leading provider of digital asset financial services in the region.
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