HashKey Obtains SFC Approval for OTC Trading

02/24/2023 06:50 • Tech Trends • 141 views

On February 24, the digital asset financial service provider HashKey Group (“HashKey”) announced that it had obtained the approval of the Hong Kong Securities and Futures Commission (“SFC”), and its Hash Blockchain Limited (“HBL”) could carry out the over-the-counter trading (OTC) business outside the virtual asset platform.

HashKey Group is approved by the Hong Kong Securities Regulatory Commission to carry out virtual asset over-the-counter trading (OTC)

Analysis based on this information:

HashKey Group, a leading provider of digital asset financial services, declared on February 24 that it had secured endorsement from the Hong Kong Securities and Futures Commission (SFC). HashKey’s Hash Blockchain Limited (HBL) will now be able to perform over-the-counter (OTC) trading transactions outside of the virtual asset platform framework. The approval is seen as a crucial step towards company expansion in the region.

While virtual assets and cryptocurrencies were considered a niche market a few years ago, they have gained massive attention and popularity worldwide in recent times. Cryptocurrency exchanges and related businesses such as HashKey have been thriving, with Hong Kong emerging as a hub for such firms.

The latest endorsement from the SFC, which is responsible for regulating the securities and futures market in Hong Kong, recognizes HashKey’s prominence and legal compliance. Moreover, the approval enables HashKey to engage in OTC trading, an important feature that enables parties to conclude transactions via a dealer network rather than through a centralized exchange. OTC trading adds liquidity to the market as it allows investors to transact outside the exchange and away from the order book, which can trap orders and create unfulfilled market demand.

The latest approval comes as an added boost for the company, which already has a strong reputation in the industry. HashKey offers a wide range of digital asset products and services to institutional investors, including hedge funds, family-offices, and asset managers. The approval will enable HashKey to better serve clients with diverse trading requirements.

In conclusion, the latest endorsement from the SFC adds to HashKey’s growing reputation as a trusted digital asset service provider while boosting market liquidity. The approval to perform OTC trading outside the virtual asset platform provides investors with more flexible and efficient trading options. As such, HashKey’s ability to pursue OTC trading reinforces its status as a prominent and innovative provider of digital asset financial services in Hong Kong.

Keyword(s): HashKey, digital asset, Hong Kong, SFC, OTC trading.

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HashKey Obtains SFC Approval for OTC Trading

HashKey Group is approved by the Hong Kong Securities Regulatory Commission to carry out virtual asset over-the-counter trading (OTC)

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