Hong Kong, November 10 2022 – Hash Blockchain Limited (“HBL”), a member of the HashKey Group (“HashKey” or the “Group”), a digital asset financial services group in Asia, has received approval from the Securities and Futures Commission of Hong Kong (“SFC”) to operate a virtual asset trading platform, under a Type 1 (dealing in securities) licence and a Type 7 (providing automated trading services (“ATS”)) licence for professional investors.
With the SFC licences, HashKey Group has now become the world’s first digital asset group with virtual asset licences from the Hong Kong SFC, the Financial Services Agency of Japan and an exemption to operate under the Payment Services Act from the Monetary Authority of Singapore.
HashKey PRO is the name of HBL’s institutional-grade virtual asset trading platform. HashKey PRO will provide professional investors automated trading services for cryptocurrencies such as Bitcoin and Ether, as well as stablecoins, security tokens and other innovative assets.
Unlike other unregulated crypto trading platforms, HashKey PRO is designed to ensure there is a high level of client asset protection. Client assets are segregated and held in custody by HashKey Custody Services Limited, which holds a Trust or Company Service Provider licence in Hong Kong.
HBL’s licence issuances come after a statement on October 31, 2022 by the city’s Financial Services and the Treasury Bureau, which outlined its vision and approach to develop Hong Kong into an international virtual assets hub.
Michel Lee, Executive President of HashKey Group, said “The recent policy statement is a testament to the Hong Kong government’s dedication and commitment to fortify the city’s status as a frontrunner and leader in blockchain and virtual asset innovation and regulation. We are delighted to have received the licences given the backdrop of this positive announcement. This enables us to provide regulated and compliant virtual asset trading services as we continue to help build the financial, technological and service infrastructure to facilitate and contribute to the rapid growth and the long-term development of the ecosystem.”
Colin Zhong, CEO of HBL, said, “Our objective is to build a platform that is best in class in terms of technology, security and trading experience for our clients. One of the focuses of HashKey’s virtual asset exchange will be on the tokenisation of non-traditional assets, leveraging the robust ecosystem HashKey has developed over the years.”
“Apart from trading services, HashKey is also dedicated to supporting and providing a gateway for financial institutions and corporates to gain exposure to, and participate in, crypto projects through our comprehensive ecosystem across the digital asset landscape and Web3 infrastructure services.”
In 2022, the Hong Kong government and regulators have been setting out new guidelines and a licensing framework to regulate virtual asset trading activities in the interest of consumer and investor protection. A joint circular announcement was issued by the SFC and the Hong Kong Monetary Authority on January 28 2022 stating that registered institutions and licensed corporations are required to partner only with SFC-licensed VATPs in order to provide virtual asset dealing services to their clients. At Hong Kong FinTech Week 2022, the SFC also released a Circular on Virtual Asset Futures Exchange Traded Funds, which states that the SFC will start accepting applications for the authorisation of such funds. The SFC has started reviewing the “professional investor only” requirement applicable to the investment of virtual asset products and are preparing a circular to set out a modified security token regime to treat tokenised assets in line with traditional securities assets on a “same business, same risk and same rules” approach.
For media enquiries, please contact:
About HashKey Group
HashKey Group is an end-to-end digital asset financial services group in Asia. The Group provides a complete ecosystem across the entire digital asset landscape, ranging from trading, custody, venture investment, technologies to Web3 infrastructure. HashKey’s senior team has decades of investment and trading experience, strong business execution and deep market insights gained from tier-one banks, regulators and FinTech ventures. By bringing together the most advanced blockchain research and development and technologies, HashKey identifies potential opportunities and delivers end-to-end solutions that operate within regulatory frameworks with the highest compliance standards. The Group has operations in Hong Kong, Singapore and Japan, and extensive partnerships with FinTech and blockchain solutions providers, academic institutions and associations. Official website: https://www.hashkey.com
Notes and Disclaimer
Views, information and opinions expressed in this material are those of the individuals involved and do not necessarily represent that of the HashKey Group (including any of its affiliates). While we make every effort to ensure that the information we are sharing is accurate, we welcome any comments, suggestions, or correction of errors.
This material should not be considered as an offer or solicitation to sell, buy or subscribe to any financial instruments or product, securities or any derivative instrument, or any other rights pertaining thereto. We are not acting as a financial adviser, consultant or fiduciary to you with respect to any information provided in this material. We do not express any opinion or recommendation whatsoever as to any strategies, products or any other information presented in the materials.
Any decision made by a party after accessing to this material shall be on the basis of its own research and not be influenced or based on any view expressed in this material or otherwise. This material does not address all risks. This material does not constitute investment advice or a recommendation and has been prepared without regard to individual financial circumstances, objectives or particular needs of you. You should seek their own financial, tax, legal, regulatory and other advice regarding the appropriateness or otherwise of investing in any investments and/or pursuing any investment strategies. The HashKey Group does not express any opinion as to the present or future value or price of any instruments referred to in this material.
By accessing this material, you acknowledge that the HashKey Group makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in this material. The information, opinions, and recommendations presented in this material are for general information only and any reliance on the information provided in this material is done at your own risk. This material should not be considered professional advice. Moreover, the HashKey Group makes no warranty that this material, or the medium that makes it available, is free of viruses, worms, or other elements or codes that manifest contaminating or destructive properties.
By accessing this material, you acknowledge that the entire contents and design of this material, are the property of the HashKey Group, or used by the HashKey Group with permission, and are protected under applicable copyright and trademark laws. Except as otherwise provided herein, users of this material may save and use information contained in this material only for personal or other non-commercial, educational purposes. No other use, including, without limitation, reproduction, retransmission or editing, of this material may be made without the prior written permission of the HashKey Group.
Unless specifically stated otherwise, the HashKey Group does not endorse, approve, recommend, or certify any information, product, process, service, or organisation presented or mentioned in this material, and information from this material should not be referenced in any way to imply such approval or endorsement. The third party materials or content of any third party site referenced in this material do not necessarily reflect the opinions, standards or policies of the HashKey Group. The HashKey Group assumes no responsibility or liability for the accuracy or completeness of the content contained in third party materials or on third party sites referenced in this material or the compliance with applicable laws of such materials and/or links referenced herein.
The HashKey Group expressly disclaims any and all liability or responsibility for any direct, indirect, incidental, special, consequential or other damages arising out of any individual’s use of, reference to, reliance on, or inability to use, this material or the information presented in this material.