Hong Kong’s securities regulator yesterday gave the green light to four cryptocurrency exchanges, further solidifying the city’s status as a global center for digital asset trading. This is part of Hong Kong’s efforts to remain competitive as a financial center by promoting itself as a hub for assets such as cryptocurrencies.
The Hong Kong Securities and Futures Commission has granted licenses to Accumulus GBA Technology (Hongkong) Co., DFX Labs Company, Hong Kong Digital Asset EX, and Thousand Whales Technology (BVI).
This brings the total number of licensed virtual asset trading platforms in the city to seven, as three trading platforms – HashKey, OSL, and HKVAX – were previously approved. According to Nick Ruck, director at LVRG Research, the addition of new players in the market reflects Hong Kong’s commitment to digital assets.
This comes at a time when there is intense competition among jurisdictions, such as Singapore and Dubai, to become the global hub for cryptocurrencies.
