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Hong Kong Gives Approval to Four Exchanges

Hong Kong Gives Approval to Four Exchanges

Hong Kong has approved four new cryptocurrency exchanges on Wednesday, as announced by the city’s securities regulator. This is part of Hong Kong’s larger strategy to establish itself as a hub for assets like cryptocurrencies and maintain its appeal as a financial hub.

The four newly approved exchanges are Accumulus GBA Technology (Hongkong) Co., DFX Labs Company, Hong Kong Digital Asset EX, and Thousand Whales Technology (BVI).

This brings the total number of licensed virtual asset trading platforms in the city to seven, as Hong Kong previously approved three others – HashKey, OSL and HKVAX.

According to Nick Ruck, director at LVRG Research, the addition of new players reflects Hong Kong’s commitment and long-term vision for digital assets, especially as the international competition to become the world’s leading crypto center intensifies with companies turning to other jurisdictions like Singapore and Dubai.