HKVAX is the first to be licensed under the region’s new licensing regime, as 16 more exchanges wait.
The Hong Kong Virtual Asset Exchange (HKVAX) has become the third cryptocurrency exchange to receive licensing from the Special Administrative Region’s Securities and Futures Commission (SFC) to serve retail customers. It is the third exchange to receive full licensing in Hong Kong.
HKVAX received Type 1 (dealing in securities) and Type 7 (providing automated trading services) virtual asset trading platform (VATP) licenses, as well as an Anti-Money Laundering and Counter-Terrorist Financing license to operate a virtual asset trading platform.
HKVAX’s core service offerings are over-the-counter trading, a trading platform and comprehensive, insured custody. In addition, it specializes in security token offerings (STO) and real-world asset (RWA) tokenization. HKVAX co-founder and CEO Anthony Ng said in a statement:
