Prominent Hong Kong digital asset firm HashKey has introduced a new application targeting retail investors. With the approval from the Securities and Futures Commission, HashKey commenced trading for retail customers on August 28th and quickly garnered substantial interest.
In an interview with The Block, HashKey’s COO Livio Weng remarked, “Since we started serving retail users, we’ve recorded significant trading volume.” Weng further noted that on October 30th alone, combined trading volumes for BTC-USD and ETH-USD pairs exceeded 100 million dollars.
Applications Developed with a Focus on User Requests
Highlighting the role of applications in trading, Weng stated, “According to our research, approximately 85% of users trade via applications.”
Furthermore, oversight of cryptocurrency exchanges in Hong Kong is intensifying. Especially following the alleged fraud accusations involving the JPEX crypto exchange, the SFC has tightened its inspections. Weng mentioned that HashKey’s application has been under thorough scrutiny by the SFC since July.
Additionally, HashKey has a global perspective. The company allows users from all over the world to deposit fiat currency into the exchange. On this subject, Weng commented, “We support deposits in both Hong Kong dollars and US dollars.”
HashKey to Launch Its Own Token
It’s also known that HashKey plans to launch its own cryptocurrency token in the future. This token, named HSK, will be based on the ERC-20 protocol. The exchange intends to use this token to incentivize users within its ecosystem. Livio Weng indicated that HSK will be listed on the exchange, but this step might not be finalized until the middle of next year.