Crypto firm HashKey secures $100 mln funding, exceeds $1 bln valuation: Expanding Opportunities for Retail Investors in Asia
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A big event has taken place in Hong Kong’s cryptocurrency scene! Crypto firm Hashkey, based in this metropolis, received its long-awaited license from the Securities and Futures Commission (SFC) on August 3. Retail investors in Hong Kong will now be able to take advantage of all the services of this company, which until then specialized in serving only professional investors.
What are Type 1 and Type 7 licenses?
Let’s break it down. The first license (type 1) allows Hashkey to conduct cryptocurrency trading in accordance with the securities laws. This means that the company can provide its customers with access to trade Bitcoin and Etherium, both regular and financial instruments.
The second license (Type 7) opens up the possibility for Hashkey to automatically trade cryptocurrency to not only professional but also retail investors. This is an incredibly important step, as it allows the company to improve its services and offer unique trading opportunities to its customers.
The limitation of available cryptocurrencies for retail investors includes two cryptocurrencies – Bitcoin and Etherium. It is likely that the range will be expanded in the future when the cryptocurrency market continues its steady growth and development.
Interestingly, Hashkey has decided to partner with Standard Chartered Bank to provide quality deposit and withdrawal services. This move will ensure safe and secure transactions for customers, which will give additional confidence and trust in the company.
Hong Kong is an important financial center, and with a retail cryptocurrency trading license, Hashkey is poised to make a meaningful contribution to the cryptocurrency industry in the region. The emergence of affordable services for retail investors will open up new opportunities for everyone who wants to participate in the exciting world of cryptocurrencies and blockchain.
What makes the Asian continent so interesting for crypto markets, apart from its huge population of young and blockchain-savvy people?
Emerging economies. Some countries in Asia, such as China, South Korea, Japan and Singapore, have fast-growing economies and high levels of technical awareness. This creates a favorable environment for the development and adoption of cryptocurrencies and blockchain technologies.
Regulation. Some Asian countries are adopting a more favorable attitude towards cryptocurrencies and blockchain technology, providing an environment that allows cryptocurrencies and startups to develop and operate with fewer restrictions. This can attract companies and investors from other regions to grow their businesses in Asia.
Innovation and technological potential. Cryptocurrencies and blockchain technologies are innovative solutions that can change the way many industries operate. The Asian market is a fertile field for adopting new technologies and applying cryptocurrencies in various fields such as finance, logistics, healthcare, etc.
Partnerships with local companies. Many global cryptocurrency companies and startups are looking to partner with local Asian companies to gain access to their customer base, resources, and expertise. This allows them to improve their market position and better understand the needs of Asian users.
Overall, moving into the Asian market is a strategically important move for many cryptocurrency companies and blockchain projects looking to expand their audience, gain new growth opportunities, and diversify their customer base.
Conclusion
At a time when many countries around the world are actively discussing the regulation of cryptocurrencies and grappling with the challenges associated with these new assets, such a positive development in Hong Kong demonstrates that the right regulation can support innovation and expand the accessibility of cryptocurrencies to all, interested investors. We look forward to seeing how the situation develops and its impact on the cryptocurrency market in the region and beyond.