Hong Kong has awarded its third virtual asset trading platform license to Hong Kong Virtual Asset Exchange (HKVAX).
This follows previous licenses were issued to OSL Digital Securities and Hash Blockchain (HashKey Exchange).
HKVAX has secured Type 1 and Type 7 licenses from the Securities and Futures Commission (SFC), allowing it to deal in securities and provide automated trading services.
Additionally, it has obtained a license under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).
The platform focuses on over-the-counter (OTC) trading, Security Token Offerings (STOs), and Real-World Asset (RWA) tokenisation, providing a range of virtual asset services.
HKVAX offers 24/7 trading with customised tools, institutional-level OTC brokerage services with deep liquidity, and asset custody solutions using multi-signature technology and cold/hot wallet separation.
The company also provides comprehensive insurance for its custody services, ensuring the security of client assets.
Simon Liu, Co-Founder and CTO, said,
” Our five pillars – advanced trading engine, efficient settlement, unified asset management, leading blockchain technology, and multi-layered cybersecurity measurements – construct trustworthy products and services for clients.
STOs and RWAs have broad market prospects and are key to HKVAX’s tech-driven financial innovation.”
Sam Fok, Co-Founder and COO added,
“Obtaining the licence is just the first step. We will continue implementing our business plans. Our structure provides a good platform for potential clients and partners. It’s not just an exchange, but a complete and comprehensive ecosystem.
We offer end-to-end solutions, carefully designing every aspect from asset tokenisation to custody, ensuring maximum security and efficiency. We welcome all potential partners and clients to discuss mutually beneficial solutions.”
Currently, 16 other applicants, including major platforms like Matrixport and Crypto.com, are still pursuing virtual asset trading platform licenses in Hong Kong.