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OKX, the world’s second-largest cryptocurrency exchange by trading volume and a prominent Web3 technology company, has launched the updated version of its application, enabling individual cryptocurrency investors in Hong Kong to trade securely.
Cryptocurrencies the Exchange Will Offer for Hong Kong Users
Today, OKX announced the introduction of its updated application for individual crypto investors in Hong Kong. The cryptocurrency exchange has listed BTC, ETH, ADA, MATIC, SOL, DOT, UNI, LINK, SAND, LTC, AVAX, AXS, ATOM, XLM, USDT, and USDC for trading by individual investors in Hong Kong. Through the updated exchange application, users can buy and sell a total of 16 cryptocurrencies, including BTC, ETH, among others.
These cryptocurrencies can be purchased with Hong Kong dollars, peer-to-peer (P2P), or through third-party providers such as ApplePay, Visa, and Mastercard. In a press release from the crypto exchange regarding the update, it was stated, “In compliance with the requirements set by Virtual Asset Service Providers (VASPs) in the city, spot trading of virtual assets will be offered to users in Hong Kong.”
This update demonstrates OKX’s robust preparation for Hong Kong’s new regulatory regime for VASPs and indicates the exchange’s intention to apply for a license before the regulatory framework is implemented on June 1, 2023. The massive cryptocurrency exchange has been focusing on enhancing its operations and controls over the past year to meet the regulatory requirements planned to be introduced in the city.
Hong Kong and OKX Aim to Become Crypto Hubs
Hong Kong aims to become a growing hub for digital assets, supporting the government’s policy objectives. In this context, OKX has been actively collaborating with government officials to demonstrate security measures, custody solutions, anti-money laundering (AML) protocols, and compliance capabilities expected from licensed VASPs.
OKX’s Global Commercial Director, Lennix Lai, underscored the company’s commitment to providing a safe and user-friendly crypto trading experience for investors in Hong Kong while expressing the cryptocurrency exchange’s dedication to working with regulators during the licensing process under the new VASP regime.
