The HashKey Group, an Asian entity specializing in digital asset services, has unveiled the HashKey Global exchange after securing a license in Bermuda to provide regulated digital asset trading services. The announcement was made today (Monday), marking a milestone for the firm headquartered in Hong Kong, with operational presence in Singapore and Tokyo.
Diversifying Services for Spot Trading and Futures Offerings
With the unveiling of HashKey Global, the firm is poised to expand its offerings, starting with spot trading services for 21 digital assets. Among the featured assets are popular cryptocurrencies, such as bitcoin, ether, Tether’s USDT, and Circle's USDC. Additionally, the exchange has revealed plans to introduce futures trading product services in the coming weeks, further diversifying its portfolio and catering to the needs of its clientele.
“HashKey Group aims to establish one of the world’s largest clusters of licensed exchanges within the next 5 years, surpassing all current regulated exchanges,” said Livio Weng, the COO of HashKey Group.
The HashKey Group attained unicorn status earlier this year following a fundraising round. The infusion of capital, which brought the company "nearly" to its $100 million fundraising objective, bolstered its position in the industry.
.@HashKeyGroup has launched its crypto exchange @HashKey_Global, after it was granted a license in Bermuda. By @amitoj.https://t.co/OiLqY93zHP
— CoinDesk (@CoinDesk) April 8, 2024
Establishing HashKey Global in Bermuda's Favorable Regulatory Landscape
The choice to set up HashKey Global in Bermuda highlights the firm's emphasis on operating within a regulated framework, with a commitment to compliance with industry standards and the cultivation of trust among investors and stakeholders. Bermuda's favorable regulatory environment has positioned it as an appealing jurisdiction for companies exploring opportunities in the digital asset sector while maintaining adherence to rigorous regulatory protocols.
Earlier, HashKey obtained all necessary licenses, making it the first Hong Kong firm to offer crypto retail trading, as reported by Finance Magnates. This achievement marks a notable milestone in legal regulations, as it updated Type 1 and Type 7 licenses issued by the Securities and Futures Commission, allowing it to operate a virtual asset trading platform and provide automatic trading services to both institutional and retail users.
This article was written by Tareq Sikder at www.financemagnates.com.
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