OKX strengthens Hong Kong foothold after HashKey’s Series A funding round

Rick Steves

The partnership between HashKey Group and OKX will utilize the strengths and resources of both entities to enhance services and experiences, fostering Hong Kong’s emergence as a leading center for the regulated virtual asset industry.

HashKey Group, an Asia-based leader in digital asset financial services, and OKX, a global Web3 technology and crypto exchange, have announced a partnership aimed at advancing compliant virtual asset innovation and industry development in Hong Kong.

This collaboration includes initiatives in blockchain infrastructure, product diversification, and investment education in the Hong Kong market.

OKX Ventures, OKX’s investment division, contributed to HashKey’s Series A financing. Focusing on projects that nurture the global virtual asset ecosystem, OKX Ventures invests in sustainable growth endeavors.

The partnership between HashKey Group and OKX will utilize the strengths and resources of both entities to enhance services and experiences, fostering Hong Kong’s emergence as a leading center for the regulated virtual asset industry.

HashKey was the first SFC-regulated crypto exchange serving retail users

Last year, HashKey Group became the first Hong Kong SFC-regulated crypto exchange authorized to serve retail users after securing  Type 1 and Type 7 licenses from the SFC.

Founded in 2018 and headquartered in Hong Kong, with operations in Singapore and Tokyo, HashKey Group is a prominent digital asset financial services group in Asia, championing “compliance first.”

The Group caters to retail investors, institutions, family offices, funds, and professional investors, offering innovative investment opportunities and solutions in digital assets and the Web3 ecosystem.

Their services include a Hong Kong SFC-regulated virtual asset exchange, global asset management focused on blockchain and digital assets, blockchain node validation, tokenization, and Web3 PFP incubation and community operations. Visit HashKey Group’s website and Twitter for more information.

OKX operating in Hong Kong already

OKX serves over 50 million users worldwide and sponsorships include Manchester City FC, McLaren Formula 1, Olympian Scotty James, F1 driver Daniel Ricciardo, and the Tribeca Festival.

The digital asset exchange started onboarding customers in Hong Kong a month before launching its operations there and following the implementation of the city’s new virtual asset service providers (VASPs) regime on June 1, 2023.

It was in March 2023 that OKX announced it had set up a Hong Kong entity for launching virtual asset services in Hong Kong with the goal of applying for the virtual asset service provider (VASP) license as well as the Type 1 & 7 licenses under the Securities and Futures Ordinance. The firm expects to secure approval by early 2024.

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