The Hong Kong Virtual Asset Exchange (HKVAX) has officially become the third cryptocurrency exchange to receive full licensing from Hong Kong’s Securities and Futures Commission (SFC) to serve retail customers. This achievement marks a significant step for HKVAX as it joins two other exchanges in the city that hold similar licenses.
HKVAX Granted SFC Licenses to Offer OTC Trading and Security Token Services
HKVAX was granted both Type 1 (dealing in securities) and Type 7 (providing automated trading services) licenses. Moreover, the platform was licensed to conduct Anti-Money Laundering and Counter-Terrorism Financing. This makes it a completely regulated virtual asset trading platform in Hong Kong. The development enhances Hong Kong’s status as one of the world’s premier centres for virtual assets.
It provides OTC trading, custody services, and exchange operations, among other services. Moreover, it offers Security Token Offerings (STOs) and Real-World Assets (RWAs) tokenization and virtual asset financial services. This approach is expected to support fintech development in Hong Kong by providing all-around digital asset services.
HKVAX CEO Envisions Hong Kong as a Global Leader in Virtual Assets
Dr. Anthony Ng, co-founder and CEO of HKVAX, said in response to the achievement that the license reassures the company’s mission to assist Hong Kong in becoming a leader in virtual assets. He pointed out that the development of STOs and RWAs will introduce changes in traditional financial markets. It will also increase the flow of assets and provide new opportunities for investors. Such a vision corresponds well with the general goals for Hong Kong to further develop as a financial centre.
The fourth factor in HKVAX’s growth is the technological innovation it has employed. Co-founder and CTO Simon Liu said that the platform’s more solid foundation will help the industry’s future development. Therefore, HKVAX’s system incorporates an efficient trading engine, effective settlement, powerful asset management, and multiple levels of security. These features are intended to provide safe and stable services, especially in the promising segments of STOs and RWAs.
Sam Fok, co-founder and COO, said that getting the license is only the starting point. He explained that the company’s business model is not just about the exchange itself but about offering an ecosystem solution for asset tokenisation and custody. This ecosystem was created to provide the highest level of security and optimise work with clients. HKVAX also follows the rules of “Know Your Customer” (KYC) and “Anti-Money Laundering” (AML), which provide safety while trading.
Looking ahead, HKVAX is forming strategic partnerships with brokers, ETF issuers, stablecoin issuers, and other industry players to create a thriving virtual asset ecosystem. The company will continue working with regulators to ensure compliance and enhance the quality of services available to investors in the growing virtual asset market.
