![]() Firms seeking to offer virtual assets are also obligated to apply for appropriate licences before providing these services. The path to approval for HKVAX comes on the back of the Hong Kong government’s push to bring into operation a new crypto framework for the virtual asset industry.Īmong the changes has been the requirement that registered institutions and banks extend services to SFC-licensed crypto platforms. Details on the SFC website show that OSL received the first digital assets broker licence in December 2020, while Hashkey was licensed in November 2022. ![]() HKVAX’s approval-in-principle could see it join OSL and Hashkey as the third licensed VATP in Hong Kong. HKVAX to join OSL and Hashkey as third VATP licence HKVAX will offer three core products to users once the regulatory process is done – an OTC brokerage, an institutional-grade exchange platform, and custody solution. ![]() Anthony Ng, co-founder and CEO of HKVAX.Īccording to HKVAX, a final approval from the regulator will allow the company to provide regulated activities identified as Type 1 (securities offerings) and Type 7 (automated trading services) to customers. “ We are delighted to have received approval-in-principle from the SFC and look forward to creating a safe and trusted environment for investors in one of the world’s largest and most dynamic financial centres,” said Dr. Hong Kong Virtual Asset Exchange (HKVAX) has received a notice of approval-in-principle from the Hong Kong Securities and Futures Commission (SFC).Ī press release from HKVAX noted that the approval will see the platform become only the third virtual asset trading platform (VATP) to be licensed by the SFC. The SFC website lists OSL and Hashkey as only two VATP licensed companies.This is after it obtained an approval-in-principle from the Hong Kong Securities and Futures Commission (SFC).HKVAX has moved closer to becoming only the third platform to receive a VATP licence in Hong Kong. ![]()
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