HashKey Exchange has officially opened its doors, marking its entry as the first licensed retail virtual asset exchange in Hong Kong.

HashKey Exchange, Hong Kong’s first licensed retail virtual asset exchange, has officially commenced operations. The launch event was a collaborative effort among representatives from the Hong Kong Special Administrative Region (HKSAR) government, major banking institutions, insurance companies, and Big 4 auditing firms.

The HashKey Exchange platform allows for direct bank transfers in both USD and HKD and cryptocurrencies and operates on the “HEX Engine,” system designed to support up to 5,000 transactions per second (TPS).

Regulated by the Hong Kong Securities and Futures Commission (SFC), HashKey Exchange has implemented a required regulatory framework, including stringent user admission processes, anti-money laundering protocols, and transaction monitoring systems.

Upon its launch, HashKey Exchange has temporarily eliminated trading fees and has indicated intentions to broaden its offerings in the future.