Asian digital asset group HashKey Group announced that its compliant virtual asset exchange HashKey Exchange has obtained approval from the Hong Kong Securities and Futures Commission and upgraded its Type 1 and Type 7 licenses, becoming the first crypto exchange able to provide retail services in Hong Kong.

HashKey Exchange was launched in the second quarter of this year, initially open to professional investors, and applied for a retail service license on June 1 in accordance with Hong Kong's virtual asset regulatory requirements. Currently, HashKey Exchange has officially opened pre-registration, and registered users will receive HashKey ecological points $HSK rewards. In addition to providing fiat currency deposit and withdrawal support, HashKey Exchange will also cooperate with Standard Chartered Bank to provide users with fiat currency deposit and withdrawal services. In addition, the platform has also opened the only compliant OTC transaction in the Eastern region.

Livio Weng, COO of HashKey Group, said: "We are delighted to become the first licensed exchange in Hong Kong for retail users. With the establishment of licensed exchanges in Hong Kong and the further clarification of the regulatory framework, the entire industry will become more transparent and investor confidence will be greatly enhanced. As an industry leader, we will continue to fulfill our commitments in compliance, capital protection and platform security to ensure that the rights and interests of users are fully protected and to create a trading platform tailored for retail users."

Related: HashKey Group launches ecological points token $HSK

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