The Hong Kong Virtual Asset Exchange (HKVAX) has obtained two key licenses from the Securities and Futures Commission (SFC): Type 1 (dealing in securities) and Type 7 (providing automated trading services), along with an Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) license. These licenses enable HKVAX to legally provide a range of virtual asset services, bolstering its position in the region’s financial market.

HKVAX’s offerings include a 24/7 trading platform, over-the-counter (OTC) brokerage services, and comprehensive asset custody solutions employing multi-signature technology and wallet separation for enhanced security. Additionally, the platform is tailored to support professional investors with management services like Security Token Offering (STO) consultation, Real-World Asset (RWA) tokenization, technical support, and secondary market trading. These capabilities aim to establish a holistic virtual asset ecosystem in Hong Kong.

Commenting on the licensing milestone, Anthony Ng, co-founder and CEO of HKVAX, stated that the achievement underscores Hong Kong’s dedication to becoming a leading center for STO and RWA activities in Asia and beyond. The platform’s strategic collaborations with brokers, Money Service Operators (MSOs), and Exchange Traded Fund (ETF) issuers will further contribute to creating a robust virtual asset ecosystem, advancing Hong Kong’s financial innovation.

Hong Kong’s broader crypto strategy aims to position the city as a top international financial hub for virtual assets. The government has introduced a supportive regulatory framework, including the recent licensing guidelines from the SFC, to foster a secure, vibrant trading environment. By providing regulatory clarity and promoting technological innovation, Hong Kong is poised to attract both established and emerging cryptocurrency businesses, enhancing its global competitiveness.

Advertisement

Source: blockhead.co

The post HKVAX Secures Cryptocurrency Exchange License in Hong Kong appeared first on HIPTHER Alerts.