HashKey Exchange has become the first licensed retail cryptocurrency exchange in Hong Kong, following the granting of Type 1 and Type 7 licenses by the Hong Kong Securities and Futures Commission (SFC). The exchange now offers Bitcoin and Ether trading pairs with the Hong Kong dollar, with plans to list additional tokens in the future. HashKey aims to onboard 500,000 to one million users by the end of 2023 and predicts that Hong Kong’s crypto user base will increase to 10-15 million over the next two years. The company believes that favorable regulatory oversight from the Hong Kong government and the SFC will attract Web3 talents and capital, accelerating technological and business innovation in the region. HashKey’s exchange operates on the Hex Engine, a high-performance trading system capable of processing 5,000 transactions per second. The exchange has also adopted regulatory requirements such as user screening, Anti-Money Laundering inspections, and transaction monitoring.
