A new Hong Kong bitcoin exchange has launched after raising $2m in funding from local investors.
HKCex is led by chief executive and chairman Pheng Cheah. The company said it will allow mainland China customers to open accounts and will also accept wire transfers from mainland bank accounts.
"Mainland customers are welcome," said Lavin Lam, a marketing and PR spokesperson for the exchange.
HKCex will also allow customers to use deposit and withdraw funds to credit cards using a PayPal gateway. This requires a signed authorisation form for transactions, Lam said.
The funds will be spent on building the exchange's trading infrastructure (alongside a merchant platform and marketing costs). The firm said its goal is to be the world's "most secure bitcoin trading platform".
HKCex enters the scene in the wake of increasing activity among Hong Kong exchanges. AsiaNexgen, for example, gave out $65,000 worth of bitcoin vouchers on the streets of the city to celebrate Chinese New Year in what it claimed was the biggest giveaway of the digital currency to date.
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