HashKey Group Obtains Approval for OTC Services in Hong Kong

Asian end-to-end digital asset financial service provider HashKey Group has received regulatory approval from the Hong Kong Securities and Futures Commission to offer over-the-counter (OTC) services to customers in the region. The license was obtained through the HashKey Group subsidiary Hash Blockchain Limited. 

Hashkey Group “is proud to announce that it has obtained approval from the Securities and Futures Commission of Hong Kong (“SFC”) to carry on an off-platform virtual asset trading business out of (“OTC”) for Hash Blockchain Limited (“HBL”),” 

Michel Lee, Executive President of HashKey Group expressed his excitement about the license. 

“We are thrilled to receive the approval from the SFC. Our experience with the OTC business has been valuable, and this approval now provides clients with an option to face an entity that is licensed in Hong Kong. As we continue to prepare for the launch of HashKey PRO – our regulatory-compliant virtual assets exchange, we are excited to be able to offer more products in the pipeline.”

With this latest SFC permission, the company will facilitate crypto trade between independent parties as a way of permitting the trading of digital assets that are ordinarily not listed on regular cryptocurrency exchanges. More specifically, HBL will be the crypto trade intermediary responsible for providing a safe and secure trading environment for its clients. 

HashKey Group Upholds Regulatory Standards

Markedly, HaskKey tries to make sure that businesses operating under its jurisdiction comply with high standards of transparency, security, and integrity. The Chief Executive Officer (CEO) of HBL, Colin Zhong, reiterates how beneficial the OTC license will help to actualize all of the HashKey goals. 

Zhong also spoke about the upcoming launch of HashKey PRO which is regulatory compliant, adding that;

“HashKey PRO is committed to fostering greater trust and confidence among investors. This, in turn, can help attract a broader base of participants to the market and facilitate the mainstream adoption of digital assets.”

Similarly, HashKey Capital, the investment arm of the digital asset heavyweight, obtained approval from SFC to manage a digital asset portfolio in 2022. The approval was an improvement to the previously held Type 9 asset management license from the Hong Kong financial watchdog.