HTX exchange applies for a license in Hong Kong

The platform is seeking authorization through a subsidiary managed by HBGL Hong Kong Limited

21.02.2024 - 14:20

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2 min

What’s new? On February 20, centralized exchange (CEX) HTX applied for a crypto license in Hong Kong. According to the Securities and Futures Commission (SFC), the company is seeking authorization to use the Virtual Asset Trading Platform (VATP) for its local subsidiary Huobi HK under HBGL Hong Kong Limited.

Information on the SFC website

What else is known? HTX’s application comes shortly after crypto exchange Bybit, which is also looking to provide crypto services in Hong Kong. Despite increased interest from crypto companies, the SFC has only issued licenses to two exchanges so far. For instance, OSL and HashKey Exchange were granted permission to operate in Hong Kong in December 2020 and November 2022, respectively.

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Earlier, the Hong Kong Securities and Futures Commission (SFC) opened for investment companies to accept applications for launching spot exchange-traded funds (ETFs) based on cryptocurrencies.

Also, Hong Kong-based virtual bank ZA Bank announced the launch of cryptocurrency-to-fiat exchange services for retail investors. ZA serves over 80 Web 3.0 companies and cooperates with licensed crypto exchanges HashKey and OSL.

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