HashKey, OSL, first exchanges to offer retail crypto services in Hong Kong

Digital asset platform OSL likewise announced its a license uplift from the SFC on Aug. 3, which also enabled the custody, brokerage, and exchange company to offer its services to retail consumers in Hong Kong. With retail investors now enabled to obtain and trade cryptocurrencies, the business predicts Hong Kongs crypto user base will increase to 10– 15 million over the next 2 years.A statement from HashKeys chief operating officer, Livio Weng, highlighted the value of beneficial regulative oversight from the Hong Kong federal government and the SFC as an essential chauffeur of growth for the Web3 ecosystem:”The development of regulative compliance in Hong Kong will attract Web3 skills and capital from around the world, consequently speeding up technological and company development. The exchange has actually likewise adopted a number of regulatory requirements in line with Hong Kongs guidelines, consisting of comprehensive user screening, Anti-Money Laundering examinations and deal monitoring across its operations.HashKey is likewise accredited to hold custody of institutional and retail customer funds, and its policy states that 98% of cryptocurrencies under management are kept in cold wallets.