Hong Kong-based digital assets firm Hash Blockchain Limited (HBL), a member of the HashKey Group, announced that it has obtained regulatory approval from the Hong Kong Securities and Futures Commission (SEC) to operate an asset trading platform. virtual.

HashKey said that the company has now received a Type 1 (securities trading) and Type 7 (provides automated trading services) license, allowing them to provide automated trading services for cryptocurrencies such as Bitcoin and Ether, and stablecoins, security tokens, according to the statement.

Michel Lee, CEO of HashKey Group, said he is delighted to receive the licenses given the context of this positive announcement.

“This allows us to provide regulated and compliant virtual asset trading services as we continue to help build the financial, technology and services infrastructure to facilitate and contribute to the rapid growth and long-term development of the ecosystem.”

“Our goal is to build a platform that is best-in-class in terms of technology, security and trading experience for our clients,” Colin Zhong, CEO of HBL, also welcomed the latest regulatory approval from the authority, adding that ” One of the focuses of HashKey’s virtual asset exchange will be on tokenizing non-traditional assets, leveraging the strong ecosystem that HashKey has developed over the years.

The latest approval allows the Hashkey group to get the green light not only to operate in Hong Kong, but also in Japan and Singapore on a conditional basis, which comes after another Hong Kong-based virtual asset platform, OSL Exchange, licensed virtual asset trading platforms in the city.

Recently, the HKSAR government published a policy statement supporting the city to develop virtual assets under a supervised regime, including issuing tokenized green bonds and preparing to develop the digital Hong Kong dollar. The administration’s move is seen to catch up with regional competitors such as Singapore.

Image Source: HashKey Group