HASHKEY LAUNCHES FIRST LICENSED CRYPTO APP FOR RETAIL IN HONG KONG

Hong Kong's renowned cryptocurrency exchange, HashKey, has officially expanded into the retail sector with the launch of its innovative trading app. This move marks the platform as a major licensed virtual asset exchange application in Hong Kong.

Livio Weng, Chief Operating Officer of HashKey, revealed in a recent interview that the app has received the green light from the Hong Kong Securities and Futures Commission. This approval allows the app to serve both retail users and professional investors. Additionally, Weng pointed to the immediate success of the app, highlighting a staggering daily trading volume exceeding $100 million on October 30.

Significantly, HashKey's latest move goes beyond innovation and compliance. The company became the first company to obtain a license under the new Virtual Asset Service Provider licensing scheme introduced by Hong Kong. After that, HashKey transferred its previous license, expanding trading services to a wider retail audience.

In addition to its main trading function, HashKey has broader ambitions. The exchange will soon launch its utility token named HSK. Weng mentioned that this ERC-20 token is designed to reward participants in the broad HashKey ecosystem. According to official documents, HashKey plans to release 1 billion HSK tokens. The allocation strategy is as follows: 65% will drive ecosystem growth, 30% is reserved for staff rewards, and the remaining 5% will strengthen the company's insurance vault.

Additionally, the company has a clear schedule for the listing of HSK tokens on its platform. By mid-2024, traders can expect HSK tokens to be actively traded.

Users who want to experience HashKey's offerings can find the app available starting November 1, 2023, at 03:00.11 (UTC) on the App Store and Google Play.