HKVAX Receives Approval as Hong Kong's Third Cryptocurrency Exchange
HKVAX Approved as Hong Kong's Third Cryptocurrency Exchange
As cryptocurrency developments unfold, Hong Kong's Securities and Futures Commission (SFC) has officially granted HKVAX, the third virtual asset exchange devoted to enhancing security token offerings (STO) and real-world asset (RWA) tokenisation, the green light to operate.
Significance of the Approval
HKVAX is now positioned to offer over-the-counter trading, exchange services, and custody solutions. Co-founder Anthony Ng expressed that this approval underscores Hong Kong's commitment to leading the virtual-asset industry.
- Established Expertise: With significant knowledge in financial technology (fintech), HKVAX aims to make Hong Kong the premier center for STO and RWA in Asia.
- Regulatory Path: This new licensing arrives after Hong Kong pledged to invigorate its virtual-asset sector.
- Remaining Landscape: Among nearly 30 applicants, only HashKey Group and OSL were previously licensed.
Future Prospects
HKVAX's upcoming trading platform and onboarding system are currently in the final stages of preparation. Their operational capacity may significantly impact local investor options.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.