Ponzi

Chainlink

Avalanche

HashKey Exchange, a Hong Kong-based digital asset financial services firm, has added Avalanche (AVAX) and Chainlink (LINK) trading pairs to its listings for retail investors. The addition marks a milestone for retail users, given that professional investors have had the offering since April of this year.
Trading went live for the AVAX/USD and LINK/USD pairs in the early morning hours of Wednesday. Users could make deposits and withdrawals for AVAX through the Avalanche C-Chain network and LINK using the Ethereum network.
<h2 id="b-avax-and-link-make-historic-debut-for-retail-investors-b">AVAX and LINK Make Historic Debut for Retail Investors</h2>
The AVAX and LINK trading pairs were already available on HashKey Exchange and had a portfolio of over $1 million. However, it remained the exclusive privilege of professional investors until now. Notably, this marks a significant development for AVAX and LINK, both of which became the first crypto assets to gain regulatory approval for retail investors in Hong Kong.
Before this time, only Bitcoin and Ether were available to retail investors as approved by Hong Kong’s Securities and Futures Commission (SFC) to crypto exchanges. This regulatory green light comes over a year after the new crypto licensing regime took off in June 2023.
<h2 id="b-hong-kong-s-regulatory-reinvention-b">Hong Kong’s Regulatory Reinvention</h2>
Coincidentally, HashKey Exchange received its first regulatory license two months after it had unveiled its crypto retail service in Hong Kong. According to crypto analysts, 2023 marked the turning point for Hong Kong as it sought to reemerge from the chaos that characterized the ecosystem.
For instance, in 2023, two of the largest crypto exchanges,<a href="https://thecoinrise.com/hong-kong-crypto-exchanges-must-apply-for-licensing-before-feb-26/" rel="noopener noreferrer nofollow"> Hounax and JPEX</a>, collapsed after investors suffered losses of $18.9 million and $180 million in an alleged Ponzi scheme scam. The SFC has been applauded for restoring investors’ confidence in the region as it pushes for regional dominance in crypto assets.
<h2 id="b-hashkey-leverages-hong-kong-s-regulatory-climate-b">HashKey Leverages Hong Kong’s Regulatory Climate</h2>
Hong Kong’s regulatory landscape differs greatly from neighboring China, which has maintained a strict ban on crypto transactions since 2021. Hong Kong has stated its desire to establish itself as a regional crypto hub and seems poised to achieve that label, as it has encouraged traditional financial institutions to collaborate with crypto firms.
HashKey has capitalized on the favorable regulatory climate, as users can link their bank cards and<a href="https://thecoinrise.com/ton-foundation-taps-hashkey-group-to-provide-access-to-fiat/" rel="noopener noreferrer nofollow"> deposit fiat currency with the exchange</a>. The exchange also <a href="https://thecoinrise.com/hong-kong-sfc-approves-spot-bitcoin-and-ethereum-etfs/" rel="noopener noreferrer nofollow">launched a spot Bitcoin and Ethereum ETF</a> with $102.4 million and $14.4 million, respectively, in assets under management.
The post <a href="https://thecoinrise.com/hashkey-exchange-expands-offerings-with-avax-and-link-listings/" rel="noopener noreferrer nofollow">HashKey Exchange Expands Offerings with AVAX and LINK Listings</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

HashKey Exchange Expands Offerings with AVAX and LINK Listings

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