Hong Kong offers one of Asia’s most structured and secure environments for cryptocurrency trading. Unlike unregulated markets, the city operates under a clear licensing framework, ensuring crypto investor protection without stifling innovation.
Regardless of your crypto trading capabilities, understanding how to navigate Hong Kong’s regulated exchanges first is key to safely purchasing your digital assets here. This guide explains the processes you need to know, from choosing a licensed platform to securing your holdings, so you can trade confidently.
What is Cryptocurrency?
Cryptocurrency is a type of digital or virtual currency secured through cryptography and powered by blockchain technology. First introduced with Bitcoin in 2009, these currencies operate on decentralized networks that rely on blockchain—a distributed ledger maintained by a network of computers.
Originally designed to function independently of traditional financial systems, cryptocurrencies have seen their frameworks evolve under increasing global regulations. Approaches to their legal status and regulation differ widely across countries and regions.
Cryptocurrencies have their advantages, including faster and potential for lower-cost transactions, particularly for international transfers. However, they also face significant challenges, including high price volatility, regulatory uncertainty, and concerns about their potential misuse in illegal activities.
How to Invest in Cryptocurrency in Hong Kong
There are four main ways to invest in cryptocurrency in Hong Kong: using Virtual Asset Trading Platforms (VATPs), trading through Virtual Asset Over-the-Counter (VA OTC) dealers, working with SFC-licensed brokers, or investing in Crypto ETFs.
Virtual Asset Trading Platforms (VATPs)
VATPs are regulated platforms for cryptocurrency trading, licensed and supervised by the Securities and Futures Commission (SFC). As of February 2025, Hong Kong has nine licensed VATPs.
These platforms must meet strict regulatory requirements, including thorough customer due diligence (CDD) checks, comprehensive anti-money laundering (AML) and counter-terrorist financing (CTF) measures, strong cybersecurity and operational controls, and a commitment to fair and transparent trading practices.
SFC-Licensed Brokers
Traditional financial institutions, such as banks and securities firms, that have obtained licenses from the SFC can offer cryptocurrency-related services to their clients. These brokers are subject to SFC regulations and oversight, providing a degree of protection for investors. However, their range of cryptocurrency-related products and services may be more limited compared to VATPs.
For example, digital bank ZA Bank launched its crypto trading services in late 2024, enabling users to buy and sell Ethereum and Bitcoin from US$70.
Virtual Asset Over-the-Counter (VA OTC) Dealers
VA OTC dealers, including brokers, VA ATMs, and other digital platforms that facilitate cryptocurrency transactions, operate under a transitional arrangement. While they have applied to become VATPs, they have not yet obtained full approval.
These dealers are subject to some oversight but may not adhere to the same stringent standards as fully licensed VATPs. This lack of regulation increases the risk for consumers, as their funds could be vulnerable if the SFC rejects the dealer’s application for VATP approval.
Crypto ETFs
Hong Kong offers crypto spot ETFs, allowing investors to gain exposure to the cryptocurrency market without direct ownership of digital assets. These ETFs are subject to the same regulatory requirements as traditional ETFs, with SFC oversight too.
Hong Kong offered six spot Bitcoin and Ethereum ETFs in July 2024, providing the first avenue for Asian investors to trade them in this method.
How to Buy Cryptocurrency in Hong Kong
You’ll need to follow six steps to buy cryptocurrency here:
- Choose a licensed exchange by selecting one of the SFC-approved platforms.
- Create an account by signing up on your chosen exchange and completing the Know Your Customer (KYC) process.
- Verify your identity next by submitting the relevant paperwork.
- Fund your account by depositing Hong Kong Dollars through bank transfer, credit card, or other supported payment methods.
- Place your order in the trading section and select the cryptocurrency you want to buy, such as Bitcoin or Ethereum.
- Secure your assets by transferring your cryptocurrencies to a safe wallet for long-term storage.
Overview of Licensed Cryptocurrency Exchanges in Hong Kong
Here’s a table of licensed cryptocurrency exchanges in Hong Kong, including their maker and taker fees, and a brief overview of each company.
| Cryptocurrency Exchange | Platform Name | Overview | Fees |
|---|---|---|---|
| OSL Digital Securities Limited | OSL Exchange | Hong Kong's first SFC-licensed, listed crypto exchange. Offers $1 billion insurance coverage and allows to invest from HK$1 | Exchange trading fees: 0.3% Deposit fee: No charge from OSL Withdrawal fee: No charge from OSL for US$ and HK$, fees apply for BTC (BTC0.001) and ETH (ETH0.01) |
| Hash Blockchain Limited (HashKey Exchange) | HashKey Exchange | Claims to be the largest licensed VA exchange, provides trading services for retail and professional investors | Tiered trading fees vary based on trading volume and client tier. |
| Hong Kong Virtual Asset Exchange Limited (HKVAX) | HKVAX | Offers brokerage, exchange, custody and tokenization | Not publicly available |
| Hong Kong Digital Asset EX Limited (HKbitEX) | HKbitEX | Subsidiary of Tykhe Capital Group Limited, provides services for individual and institutional investors | Spot trading: Maker fees at 0.3% and taker fees at 0.4% OTC at 0.5% No charge for deposits Withdrawal fee varies by currency type (BTC @0.001, ETH @ 0.02, HKD @ 100, USD @ 25, USDT @ 20) |
| Accumulus GBA Technology (Hongkong) Co., Limited | Accumulus | Wholly owned by Accumulus (Hong Kong), operates as a crypto platform that embraces "long term" planning | Not publicly available |
| DFX Labs Company Limited | DFX Labs | VATP that focuses on delivering dependable wallet services, ensuring safe storage and executing timely VA transactions | Deposit Fee: Free Withdrawal fees for retail clients: Free (HKD and USD), 0.00007 (BTC), 0.002 (ETH), 7 (USDT) Withdrawal fees for professional investors: Free (HKD and USD), 0.00007 (BTC), 0.002 (ETH), 7(USDT) |
| Thousand Whales Technology (BVI) Limited | EX.IO | Operates as EX.IO, and allows investors to trade instantly with fiat and highlights that 98% of assets are kept in cold wallets | Trading fee for exchange trades vary by trading volume observed over a trailing 30-day period, ranging from maker fees of 0% to 0.4% and taker fees of 0.05% to 0.6% Trading fees for off-platform trades, middleman model - waived Trading fee for off-platform trades, all to all model - tiered rate depending on deal sum, maker fee ranging from 0% to 0.4% and taker fee ranging from 0.05% to 0.6% Custody fee - waived at time of publishing for a limited time Deposit fee - None Withdrawal fee - BTC @ 0.001, ETH @ 0.005, USDT @ 14, USD @ 30, HKD @ 200 |
| Panthertrade (Hong Kong) Limited | PantherTrade | Provides a simple method to trade, send and receive BTC and ETC, 23/7 (daily hourly system maintenance from 4-5pm HKT) | No trading fee during promotion period, unless stated otherwise |
| YAX (Hong Kong) Limited | YAX | Wholly owned by Tiger Brokers, cryptocurrency exchange platform that claims to apply institutional-grade custody insurance to guarantee the safety of user accounts and assets, with advanced security features | Not publicly available |
Source: Respective websites as of 5 February 2025
The Current State of Hong Kong’s Cryptocurrency Ecosystem
Hong Kong is solidifying its position as a leading Asian cryptocurrency hub with a measured yet progressive regulatory approach.
As of February 2025, the Securities and Futures Commission (SFC) has issued operational licenses to seven virtual asset trading platforms (VATPs) since mid-2024. Most recently, on January 27, 2025, PantherTrade and YAX secured SFC approval, bringing the total number of licensed crypto exchanges in Hong Kong to nine.
This licensing drive reflects the city’s strategy to foster innovation while ensuring investor protection. The SFC enforces strict regulatory measures, including rigorous Know Your Customer (KYC) protocols, asset safeguards, and cybersecurity standards.
To strengthen oversight, the SFC has proposed expanding its cryptocurrency regulatory team in its 2025-2026 budget, adding 15 new positions, eight of which will focus on virtual asset frameworks, market surveillance, and enforcement.
Beyond exchange regulation, Hong Kong is advancing its broader digital asset framework. The Stablecoins Bill, currently under review, seeks to regulate fiat-referenced stablecoin issuers, requiring them to obtain licenses from the Monetary Authority (HKMA).
With these developments, Hong Kong is shaping a regulatory model that balances market growth, investor protection, and compliance, reinforcing its role as a key player in the global cryptocurrency landscape.
FAQs
What are the best cryptocurrency exchanges in Hong Kong?
As of February 2025, Hong Kong has nine licensed Virtual Asset Trading Platforms (VATPs) regulated by the Securities and Futures Commission (SFC). These platforms must meet strict regulatory requirements, so they would ideally fall under the category of the best cryptocurrency exchanges for investing in Hong Kong.
What are the benefits of investing in Crypto ETFs in Hong Kong?
Crypto ETFs in Hong Kong offer a way for investors to gain exposure to the cryptocurrency market without directly owning digital assets. These ETFs are regulated like traditional ETFs and are subject to the oversight of the Securities and Futures Commission (SFC).
Crypto ETFs provide a safer and more accessible alternative for investors who want to invest in cryptocurrencies such as Bitcoin and Ethereum without managing individual coins.
What is the difference between VASP and VATP in Hong Kong?
In Hong Kong’s regulatory framework for virtual assets, Virtual Asset Service Providers (VASPs) and Virtual Asset Trading Platforms (VATPs) are closely related but distinct concepts. VASPs represent a broader category encompassing various virtual asset services, while VATPs specifically refer to centralised trading platforms for virtual assets.
Under the current regulatory framework, all centralised VATPs operating in Hong Kong or actively marketing their services to Hong Kong investors must obtain a license from the Securities and Futures Commission (SFC), regardless of whether they trade security tokens or non-security tokens.
Source of image: Edited from Freepik