Hong Kong OTC Outlets Market | Crypto Daily Digest Oct.9
While the Hong Kong government has implemented strict regulatory requirements for online cryptocurrency trading platforms, a sharp contrast exists in the relatively unregulated realm of cryptocurrency trading carried out through over-the-counter (OTC) channels.
According to a report by the Financial Times in July of this year, offline cryptocurrency exchange shops in Hong Kong are prevalent in tourist and shopping areas and are thriving due to increased demand from tourists and the ambiguous regulatory status in Hong Kong. Their main appeal lies in the ease with which customers can purchase digital assets with cash, often without the need to disclose the source of funds or identity. In stark contrast to the strict licensing rules drafted by Hong Kong to become a hub for virtual asset trading, these OTC cryptocurrency shops allow customers to trade with lighter or even no verification.
Below is the map from Google map shows main crypto outlets in Hong Kong:
According to a summary by Meta Era, the main offline OTC shops in Hong Kong currently include:
- CoinUnited: CoinUnited is an established cryptocurrency platform, and its offline outlets operations cover the entire Hong Kong.
- TideBit: TideBit is a private trading platform where users can conduct on-chain transactions and independently store their assets.
- HKD: HKD is a digital asset trading platform.
- Coiner: Founded in 2020, Coiner focuses on providing cryptocurrency-related services. The company primarily operates over-the-counter (OTC) businesses and has established both online and offline blockchain communities in Hong Kong.
- COINHERO: COINHERO is a Hong Kong-based company that specializes in providing convenient Bitcoin and cryptocurrency ATM services.
- Onesatoshi: Onesatoshi is a company that specializes in cryptocurrency consulting services.
- CryptoPARD (Crypto Leopard): CryptoPARD is a cryptocurrency institution located in the landmark Langham Place in Tsim Sha Tsui and Mong Kok. Their cryptocurrency exchange counters allow users to conveniently exchange and trade cryptocurrencies.
- Coingaroo: Coingaroo is a cryptocurrency company established in 2020 and founded by Lotus.
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