Hashkey opened its retail crypto trading services in mid-August this year and its trading volume scaled to more than $100 million in October.
After unlocking Hong Kong, its doors are open to all cryptocurrency In the industry at the beginning of this year, more investors have flocked to the young market to take advantage of the power of Web 3.0. A group of investors and tech developers came together and formed a crypto exchange called Hashkey with operations in Singapore, the United States, the United Kingdom, Switzerland, Israel, and Australia, among many other jurisdictions. In latest move to ensure sustainable growth, Hashkey announces launch Its trading application is aimed at retail traders. Furthermore, the cryptocurrency exchange has already recorded a significant inflow of trading volumes over the past few months of operation.
Hashkey and crypto operations
According to Livio Weng, the company’s chief operating officer, its desire to expand its operations in Hong Kong and other global markets has helped it secure the necessary regulatory licenses in several jurisdictions. Weng highlighted that the crypto exchange has received approval from the Hong Kong Securities and Futures Commission to serve both novice and professional traders.
Additionally, the company concluded that approximately 85 percent of cryptocurrency traders use the application to facilitate a better understanding of the market.
Meanwhile, Hashkey understands that retail traders in Hong Kong are taking a cautious approach following the scam by the JPEX cryptocurrency exchange. As a result, Hashkey is working with regulators to ensure maximum protection for investors. For example, Weng highlighted that the Hong Kong Securities and Futures Commission has been examining its application since July as the exchange submitted a number of materials for review. Additionally, Hashkey will accept bank deposits for its trading application from 17 different jurisdictions. However, Hashkey will only accept cash deposits in United States dollars and Hong Kong dollars.
To provide the best possible trading services to its customers, Hashkey has launched an ERC20 token named Hashkey EcoPoints (HSK). The HSK token will have multiple use cases within the Hashkey ecosystem including incentivizing merchant fees and ensuring network growth. Specifically, the total supply of HSK tokens is 1 billion, of which 65 percent is for ecosystem development, 30 percent for the team, and 5 percent for reserves to protect the network from undue risk. HSK tokens will be used for marketing activities to ensure future growth prospects through user acquisition. Additionally, the Hashkey team has set up a token-burning mechanism to protect HSK holders from inflationary pressures in the future.
Hashkey Group has several other projects including a venture capital fund, a blockchain node verification service, a DeFi wallet, and a secure custodial platform.
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