TON Foundation Taps HashKey Group to Provide Access to Fiat

The TON Foundation, a prominent entity in the blockchain ecosystem, has recently announced a strategic partnership with HashKey Group, a Hong Kong-based digital asset financial services firm. As reported by The Block, this collaboration aims to enhance the user experience for Telegram Wallet users in the Asia Pacific region by providing greater access to fiat on-and-off ramps, thus bridging the gap between traditional finance and digital assets.

TON Foundation to Explore Several Options From HashKey Group

Interestingly, the TON Foundation and HashKey Group have joined hands to provide users with a hassle-free and secure platform for seamless fiat currency conversion to digital assets and vice versa. As such, this partnership aims to increase the popularity and acceptance of blockchain technology and cryptocurrencies by making them more user-friendly and accessible to a wider audience.

The partnership will also explore opportunities to support early-stage projects within the TON ecosystem. Such support can help nurture a vibrant community of developers and creators, driving advancements in the TON ecosystem and beyond. However, the TON Foundation added that it is exploring treasury management options from HashKey Group.

Hashkey Group Gets Approval for OTC Services

Recall that Asian end-to-end digital asset financial service provider HashKey Group received regulatory approval from the Hong Kong Securities and Futures Commission to offer over-the-counter (OTC) services to customers in the region. The firm can carry an off-platform virtual asset trading business out of OTC for Hash Blockchain Limited (HBL).

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

HashKey Group Upholds Regulatory Standards

Markedly, HashKey tries to ensure businesses operating under its jurisdiction comply with transparency, security, and integrity standards. The Chief Executive Officer (CEO) of HBL spoke about the launch of HashKey PRO, which is a regulatory complaint.

He added that HashKey PRP 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.