Kicking off the race to enter the Hong Kong market, cryptocurrency exchange CoinEx has become the latest exchange to signal its entry into the city. According to the announcement, the exchange will soon launch a local platform called BitHK, applying for a Virtual Asset Service Provider (VASP) license to the securities regulator on June 1.
Accompanying CoinEx, Huobi said the company is also offering cryptocurrency trading to local retail traders. In addition, the exchange also submitted the VASP application to the Securities and Futures Commission (SFC) on May 29.
#Huobi HK Huobi HK 5 29 s
— 火币Huobi中文频道 (@HuobiGlobalzh) May 29, 2023
在未来六个月内，Huobi HK… pic.twitter.com/qkYSqKbLBH
Not only the two names mentioned above, exchanges like Gate.io and BitMEX have announced their applications and cryptocurrency trading services specifically for Hong Kong.
Meanwhile, OKX, Hong Kong's largest digital bank, ZA Bank, a subsidiary of Chinese state-owned multi-sector conglomerate Greenland Holdings have all signaled their intention to apply for a VASP license.
It is known that on May 23, the Hong Kong Securities and Futures Commission (SFC) issued an official notice stating that licensed VASPs can serve retail investors from from June 1st.
At the same time, those who are willing to adhere to their principles on safe asset custody, security standards, asset analysis... are welcome to apply for the license.
VIC Crypto synthesizes
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