HK First Licensed Retail Exchange HashKey to Launch Retail Trading Platform App

HK First Licensed Retail Exchange HashKey to Launch Retail Trading Platform App
Source: DL News

According to the Hong Kong Economic Journal, HashKey will launch a retail trading platform application targeting individual investors on the 28th (next Monday). Initially, retail investors can invest in Bitcoin and Ethereum, with the restriction that investments in virtual assets cannot exceed 30% of total assets.

A tiered system will be established for retail investors, which will assess investors' past experience and risk tolerance through the Know Your Customer (KYC) process, as well as questionnaire-based evaluations of their understanding of virtual assets. Novice investors' participation will be relatively limited. Additionally, the Securities and Futures Commission has not yet provided permission for margin trading and derivative tools. In the future, if regulatory approval is granted, the platform will also introduce various products tailored to different types of users.

The platform has partnered with several commercial banks, including HKD issuing banks, to provide users with fiat currency deposit and withdrawal services. It will initially support USD transactions and not yet support HKD; only bank card transactions are accepted for now, and credit cards are not supported. If retail investors' investments in virtual assets on the platform exceed 30% of their total assets, a risk warning will be issued, and investment will be restricted. However, the platform cannot verify users' total assets, relying only on users' self-provided information.

Related: HashKey Exchange Becomes First Licensed Crypto Exchange in Hong Kong to Offer Retail Services

Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!

Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!

If you have news reports or announcements that you want to reach a wider audience, feel free to email us at news@tokeninsight.com

Source

Exchanges

Related News
The U.S. DOJ Charges Against KuCoin and its Founders The U.S. DOJ Charges Against KuCoin and its Founders
BloFin Announces Platinum Sponsor of TOKEN2049 Dubai 2024 BloFin Announces Platinum Sponsor of TOKEN2049 Dubai 2024
Bitget Wallet Appoints Ex-BNB Chain Senior Executive Alvin Kan As COO Bitget Wallet Appoints Ex-BNB Chain Senior Executive Alvin Kan As COO
Crypto Bankruptcy Claims Platform OPNX to Shut Down Crypto Bankruptcy Claims Platform OPNX to Shut Down
Mt. Gox Creditors Start Receiving Repayments, Some Being Paid Twice Mt. Gox Creditors Start Receiving Repayments, Some Being Paid Twice
Latest News More More
17 Hours Ago DA Project Avail Confirmed Token Airdrop Plan
18 Hours Ago Tether to Launch New Businesses, Tether Data, Tether Finance, Tether Power, and Tether Edu
1 Day Ago Lido Finance Implemented Simple Distributed Validator Technology (DVT)
1 Day Ago Real Opportunity for Runes only Comes After the Initial Hype
1 Day Ago Worldcoin Announced "Human Centric" Blockchain World Chain
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open