HashKey Group to Debut Regulated Exchange in Second Quarter

The exchange will be open to professional investors. HashKey plans to welcome retail users in coming months.

AccessTimeIconApr 14, 2023 at 12:09 p.m. UTC
Updated May 9, 2023 at 4:12 a.m. UTC
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Digital asset financial services firm HashKey Group plans to introduce a regulated exchange in the second quarter, the company said in a statement on its website.

The exchange, called HashKey PRO, will offer bitcoin (BTC), ether (ETH), USD coin (USDC) and fiat trading pairs, according to the statement. HashKey said it is preparing to offer services to retail investors "in the coming months."

The company is one of only two firms with licenses from Hong Kong's Securities and Futures Commission (SFC) to operate a virtual asset trading platform and provide trading services. While the regulator has indicated it is considering allowing licensed platforms to serve retail investors, the investor protection measures under which these services could be offered are not yet set.

The SFC has indicated that licensed exchanges will be able to offer only very liquid virtual assets for retail trading and its token admission requirements are not yet clear.

Edited by Sheldon Reback.

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Lavender Au

Lavender Au is a CoinDesk reporter with a focus on regulation in Asia. She holds BTC, ETH, NEAR, KSM and SAITO.


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