HashKey Exchange, the first compliant exchange licensed as a retail virtual asset provider by Hong Kong, went live today, Monday August 28, 2023.

The exchange opened with access to Bitcoin, Ethereum, USDT and USDC trading pairs for retail investors, with these being BTC/USD, ETH/USD and USDT/USD. But while retail traders can for now trade BTC, ETH, and USDT, the exchange has plans to list Polygon and Avalanche. Specifically, it will offer MATIC/USD and AVAX/USD for professional traders.

Details on its website indicate that the trading platform supports direct fiat deposits for USD and HKD. Wu Blockchain shared the news on X.

HashKey officially launches

The HashKey Exchange was officially launched at a ceremony held at the Maritime Museum Central, Hong Kong. Several high-profile figures graced the occasion, including Joseph Chan Ho-lim, JP, Undersecretary for Financial Services and the Treasury, Dr. XIAO Feng, Chairman and CEO of HashKey Group and Dr. Jimmy Chiang, associate director at InvestHK.

Hong Kong’s first regulated retail crypto exchange offers a high-performance trading system capable of 5,000 transactions per second (TPS).  

As noted, other features include fiat deposits and withdrawals, fiat trading pairs, licensed custody and cold and hot wallet segregation. Users will also enjoy zero trading fee in a campaign the exchange said was effective immediately. During the promotion period, traders will benefit from zero-commission trading across all the transactions

24/7 operations and strict KYC checks are also key features.

HashKey became the first virtual asset platform to receive a crypto license to offer services to retail investors after it secured Type 1 and Type 7 licenses for the Hong Kong securities regulator.

In terms of future developments, HashKey also plans to introduce institutional business solutions, including its Omnibus Account. HashKey Brokerage as well as institutional clients will tap into these for deeper trading liquidity among other experiences, the exchange said.

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