Odaily Planet Daily News Hong Kong Virtual Asset Exchange (HKVAX) has been issued a notice of approval in principle by the Hong Kong Securities and Futures Commission (SFC), which can carry out the first and seventh types of regulated activities, and will become the first in Hong Kong Three licensed virtual asset trading platforms.
After HKVAX obtains the final approval of Type I (Securities Trading) and Type VII (Providing Automated Trading Services) licenses, it will provide three types of core products, including over-the-counter (OTC) brokerage services, with narrow spreads and high Liquidity features allow users to easily trade between fiat currencies and virtual assets; institutional-level trading platforms; and custody services, in which asset access rights and control are clear, and assets held by customers and the company itself are also clearly separated.