Cryptocurrency News Today TheBitTimes.com

Two China-tied brokers are planning to apply for a virtual asset service platform (VASP) license to offer services for retail clients. A new pair of financial entities with close ties to China plan to start offering crypto services in Hong Kong as they prepare to apply for retail trading licenses. According to Nikkei Asia’s sources familiar with the matter, Yax and PantherTrade are seeking to apply for the license in the region. Yax is reportedly supported by employees at Tiger Brokers, a Chinese brokerage firm backed by Xiaomi. PantherTrade is a crypto -aimed platform, which reportedly has close connections to Futu, a digitized brokerage firm backed by Chinese tech giant Tencent. You might also like: Hong Kong official states retail stablecoins trading not yet allowed While no timeline was revealed, the two firms undergo third-party assessments to submit their applications with the Securities and Futures Commission (SFC). “They will apply unless there...

HashKey Capital, the first licensed crypto exchange in Hong Kong, has announced the launch of a new secondary market crypto fund. The fund will use a significant portion of its assets to invest in the cryptocurrency industry, targeting different cryptocurrencies. According to a report, the company has secured many potential high-net-worth Asian individuals and companies. The firm’s portfolio manager, Jupiter Zheng Jialiang, explained that the company will seek to raise $100 million for its fund over 12 months. Zheng Jialiang added that the fund will invest in top-tier cryptocurrencies like Bitcoin and some altcoins. You might also like: HashKey officially launches as Hong Kong’s first retail crypto exchange HashKey exchange development in Hong Kong HashKey Exchange is the first licensed retail virtual asset exchange in Hong Kong. It officially commenced operations with a grand launch event that brought together representatives from the Hong Kong government, central bankin...