HashKey obtains SFC approval to offer off-platform OTC trading
With the SFC's approval, Hashkey Group can facilitate trades for clients even if the tokens are not listed in its order book.
Digital asset management firm HashKey Group has received regulatory approval from the Securities and Futures Commission (SFC) of Hong Kong to expand its over-the-counter (OTC) trade offerings.
HashKey Group had received two licenses from the SFC, allowing the firm to trade securities tokens and provide automated trading services. However, HashKey’s clients were only limited to trade tokens only listed on the platform.
HashKey announced on Feb. 24 that it had obtained regulatory approval to offer an off-platform virtual asset trading OTC business in partnership with Hash Blockchain Limited (HBL).
With the SFC’s approval, HashKey can act as an intermediary to facilitate trades from its clients even if they wish to trade tokens not listed on the exchange’s order book.
HashKey president Michel Lee said that the SFC’s approval would allow the trading firm to provide its clients with more investment options in a secure and transparent environment.
Lee added that the firm was working on launching HashKey PRO- a regulatory-compliant exchange designed to foster increased trust and transparency among investors.