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 <p><span style="font-weight: 400">Significantly, this move follows a broader strategic push by the city to become a central node in the burgeoning digital asset universe. Besides the immediate implications for retail traders, this decision has more profound ramifications for the city’s fintech landscape.&nbsp;</span></p>  
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">BREAKING:</p> 
  <p><a rel="dofollow" title="Hong Kong" href="https://thebittimes.com/tag/hong-kong.html">Hong Kong</a> officially launches its first trading platform for Bitcoin and crypto.</p> 
  <p>— Whale (@WhaleChart) August 28, 2023</p>  
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 </blockquote> 
 <p></p> 
 <p><span style="font-weight: 400">HashKey’s opening not only allows investors to trade Bitcoin and Ether using US dollars directly, but a roll-out for transactions in <a rel="dofollow" title="Hong Kong" href="https://thebittimes.com/tag/hong-kong.html">Hong Kong</a> dollars is also on the horizon, with plans to be operational “within a week or two,” according to HashKey Group COO Livio Weng.</span></p> 
 <h2 id="b-ambitious-targets-amid-fintech-evolution-b"><b>Ambitious Targets Amid Fintech Evolution</b></h2> 
 <p><span style="font-weight: 400">Moreover, </span><span style="font-weight: 400">HashKey’s ambitions</span><span style="font-weight: 400"> are straightforward since they aim to onboard between 500,000 to 1 million global retail users by year’s end and set their sights on 10 million by 2025.</span></p>  
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 <p><span style="font-weight: 400">Additionally, the tight licensing requirements set by the SFC, covering aspects such as asset custody, cybersecurity, and corporate governance, underscore the commitment to ensuring a secure trading environment for new and seasoned investors.</span></p> 
 <h2 id="b-hong-kong-s-challenges-ahead-b"><b>Hong Kong’s Challenges Ahead</b></h2> 
 <p><span style="font-weight: 400">However, as with every financial revolution, there are challenges. The </span><span style="font-weight: 400">SFC</span><span style="font-weight: 400"> has recently issued warnings against platforms making unfounded compliance claims. Consequently, traders are urged to be vigilant, ensuring they only engage with licensed platforms.&nbsp;</span></p> 
 <p><span style="font-weight: 400">Investors are at risk of potential losses from unregulated exchanges due to vulnerabilities like hacks or asset misappropriation.</span></p> 
 <p><span style="font-weight: 400">Hence, as the world watches <a rel="dofollow" title="Hong Kong" href="https://thebittimes.com/tag/hong-kong.html">Hong Kong</a>’s crypto endeavors, the region’s dedication to melding innovation with security remains evident. The launch of the HashKey Exchange signifies the city’s adaptability and foresight into the digital future of finance.</span></p> 
</div>    
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/hong-kong-fuels-fintech-rise-with-hashkey-exchange-debut-tbt60680.html">https://thebittimes.com/hong-kong-fuels-fintech-rise-with-hashkey-exchange-debut-tbt60680.html</a></p>

Hong Kong Fuels Fintech Rise with HashKey Exchange Debut

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