HashKey Group Obtains Bermuda License, Unveils Worldwide Platform

HashKey Group Launches New Global Trading Platform

HashKey Group has recently introduced its latest global trading platform, providing access to a diverse range of over 20 cryptocurrencies. This platform is specifically designed to cater to international users who were previously not serviced by HashKey Hong Kong.

Platform Features and Services

The new platform, known as HashKey Global, has obtained a digital asset business license in Bermuda to ensure compliance with regulations. Users can trade a variety of cryptocurrencies, including stablecoins like Tether (USDT) and USD Coin (USDC). Additionally, the platform is set to introduce futures trading in the near future following its initial launch.

Target Audience and Expansion Plans

HashKey COO Livio Weng highlighted that due to regulatory constraints in Hong Kong, only specific categories of investors could access HashKey’s services. Despite accumulating 170,000 users, Weng estimates that there is a potential user base four times larger that the platform currently serves.

To tap into this untapped market, HashKey Global aims to attract international users, excluding certain regions with crypto restrictions such as China Mainland, Hong Kong, and the United States.

Regulatory Advancements and Market Growth

While individual investors in Hong Kong are limited to trading Bitcoin (BTC) and Ethereum (ETH), HashKey Group has applied for approval to offer four additional assets through the Securities and Futures Commission (SFC).

Weng believes that the global platform will appeal to Chinese customers abroad and the Southeast Asian market, potentially quadrupling the platform’s current asset holdings by the end of the year.

Future Prospects and Regulatory Impact

HashKey Global is positioned as a testing ground for new products and features, with the aim of influencing regulatory decisions in Hong Kong. Weng suggests that successful testing of futures trading on the global platform could prompt regulatory authorities to reconsider their stance on such services.