HashKey Group launches international platform HashKey Global! For global retail investors

Hong Kong cryptocurrency exchange HashKey Exchange has obtained a regulatory license to provide trading services to local retail investors. In order to expand its business space, its parent company HashKey Group is looking to expand offshore business.

Launch of HashKey Global platform

According to the Hong Kong Economic Times report today (8th), HashKey Group Chief Operating Officer Weng Xiaoqi said that the company has obtained Bermuda’s “comprehensive digital asset investor protection system license.” Officially launched the HashKey Global trading platform.

Weng Xiaoqi said that HashKey Exchange has about 170,000 customers. It is estimated that the number of potential customers who are interested but do not meet the requirements is four times that of existing customers. This potential cannot be released through Hong Kong business, so the establishment HashKey Gloabl platform, and can directly trade with stable currencies such as USDT and USDC.

The new platform HashKey Gloabl can provide more than 20 currencies in the first phase, and will provide futures and pledge products in the future. The current asset management scale of HashKey exceeds HK$2 billion. It is expected that when the new platform is opened, it is expected to double by the end of the year. 4 times to HK$8 billion.

The positioning of the two major platforms is different

According to Weng Xiaoqi, the positioning of the two platforms is different:

• HashKey Exchange, which has obtained a Hong Kong license, focuses on Hong Kong and surrounding areas market, as well as institutional clients

• HashKey Global serves retail investors who cannot enter the Hong Kong market, but does not include China, Hong Kong, the United States and countries that have clearly stated that they do not allow the operation of virtual property platforms. It is expected that The main customer sources are overseas Chinese and users from Southeast Asian countries.

Weng Xiaoqi said that the Hong Kong platform adopts the highest standards for user protection, while the global platform can experiment with innovative functions, hoping to learn from experience and in turn promote the development of Hong Kong.

Weng Xiaoqi mentioned that at this stage, he hopes that the Securities Regulatory Commission will approve the trading of futures, but he believes that the Hong Kong Securities Regulatory Commission feels that the risk is very high. However, assuming that it has been tested on the global platform for half a year to a year, it will be used at a low multiple such as 2 or 3 times. Leverage Bitcoin and Ethereum and report relevant data and experience to Hong Kong. This move is expected to promote the regulatory development of Hong Kong.

Looking forward to the future, HashKey will continue to carry out exchange business in a licensed manner. Weng Xiaoqi revealed that two additional licenses are under negotiation. In the next five years, we will be based in Hong Kong and focus on the Asia-Pacific region. We hope to obtain licenses in different regions around the world, summarize the operating experience in each region, and form interactive relationships.

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