HashKey Announces Launch of Virtual Asset Exchange in Q2

HashKey Group has announced HashKey PRO, its new regulated exchange set to launch in Q2 of 2023.

The firm previously received Type 1 and Type 7 licenses from the Securities and Futures Commission of Hong Kong (SFC), which allows deal in securities and providing automated trading services, respectively.

Client funds are held in segregated accounts and separated from HashKey PRO's operations, ensuring that they cannot be used for other purposes and that they will remain readily available for withdrawal, the exchange said in an announcement on Monday.

Additionally, client funds are protected by comprehensive insurance in respect of HashKey PRO’s wallet infrastructure (both cold and hot wallets), safeguarding client assets in the event of any unforeseen circumstances.

HashKey PRO offers fiat on and off-ramp support to users, allowing them to directly transfer USD from their bank account to the HashKey PRO fiat wallet via SWIFT. Currently, the platform accepts bank transfers from 16 countries globally and plans to expand in the future.

HashKey PRO has established a partnership with ZA Bank as settlement bank to facilitate the depositing and withdrawal of fiat currencies. The platform will continue to expand its options and partnerships with other local and international financial institutions.

Lastly, fiat trading pairs will be available on the exchange starting with BTC/USD, ETH/USD, USDT/USD at launch with more to come, making it easier than ever to purchase and trade virtual assets.

HashKey PRO is accepting early sign-ups from professional investors (PIs) globally on a limited basis, subject to onboarding and know-your-client requirements.

The exchange is now operating from 9am to 5pm on Hong Kong business days and will move to a 24/7 operation at launch. It currently offers some of the most liquid virtual assets such as BTC, ETH, USDC and fiat trading pairs, with plans to add more in the pipeline upon meeting the token admission requirements as set out by the SFC.

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