HashKey has secured a license in Hong Kong to operate a virtual asset trading platform, the first approval from local regulators since 2020, the firm announced in a statement.
The Hong Kong Securities and Exchange Commission awarded Hash Blockchain Limited a Type 1 (dealing in securities) licence and a Type 7 (providing automated trading services) licence for professional investors.
The Hashkey Group provides a complete ecosystem across the entire digital asset landscape, ranging from trading, custody, venture investment, technologies to Web3 infrastructure, as well as an institutional-grade virtual asset trading platform.
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.
“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,” Michel Lee, executive president of HashKey Group, said about the license.
HashKey Capital, the investment arm of Hashkey Group, invests across the blockchain ecosystem, encompassing public chains, protocols, applications, and crypto finance providers. As of June 2022, its portfolio includes more than 200 companies in 17 regions, according to its website.
Earlier this month, the company announced provisional approval for a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS), allowing it to offer its services to institutional and accredited investors in the city-state.