Log In

Reset Password

HashKey Group announces Bermuda licence

HashKey Group COO Livio Weng (Photograph supplied)

The Hong Kong Crypto Exchange that became a crypto unicorn after raising $100 million last summer said this week that it has been granted Bermuda rights to offer licensed digital asset trading services.

It is the fourth jurisdiction in which it has obtained a licence.

While noting its regulatory compliance, including HashKey Global holding “a licence issued in Bermuda, one of the world's largest offshore financial and reinsurance centres”, it points out that it does not operate in, nor onboard clients from, in the United States, mainland China, Hong Kong SAR and certain restricted countries or regions.

HashKey Group COO Livio Weng said they want to establish one of the world's largest cluster of licensed exchanges within the next five years, surpassing all existing regulated exchanges.

HashKey said on their website that their launch of HashKey Global makes for a new era of regulated trading.

The statement said: “HashKey Global has been granted a licence in Bermuda, one of the world's largest offshore financial and reinsurance centres, allowing HashKey Global to offer licensed digital asset trading services, including but not limited to trading and service products such as launchpad, futures trading and leveraged trading.

“With the ability to onboard global institutions and retail customers, HashKey Global has currently opened spot trading services for 21 digital assets including BTC, ETH, USDT, and USDC. Perpetual futures is expected to launch shortly.”

With its Hong Kong market presence, HashKey Group aims to extend the experience of "regulated model" financial management system globally.

The group said it aims to expand its global presence by establishing multiple independently operated licensed exchanges, thereby advancing its strategic pursuit of comprehensive global market coverage.

It added that HashKey Global is strategically positioned to significantly enhance the group's international presence, as it serves as another flagship business in HashKey Group's global licensed exchange landscape.

Mr Weng, the group COO, stated: "The Bermuda licence marks another licence obtained by HashKey Group following those in Japan, Hong Kong and Singapore, issued by regulatory authorities in yet another jurisdiction, demonstrating global recognition of our past efforts.

“With a foundation in Hong Kong and a global licensing approach, HashKey Group aims to continue to advance its global licensed exchange matrix.

“Following HashKey Global, we look forward to the possibility of expanding our operations to cover regions including the Middle East and Europe."

Mr Weng also remarked: "The addition of a global platform signifies HashKey Group's official entry into the era of 'dual flagships' in the exchange landscape.

“HashKey's exchange business originated in Hong Kong and represents the 'regulated model' of the city. The success of our global strategy is inseparable from the fertile ground provided by Hong Kong.

“If our global expansion succeeds in the future, it will not only signify the success of the 'regulated model' but also stand as a collective achievement of all those who have contributed to the Web3 industry in Hong Kong."

You must be Registered or to post comment or to vote.

Published April 11, 2024 at 8:00 am (Updated April 11, 2024 at 7:34 am)

HashKey Group announces Bermuda licence

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon