Introducing HKbitEX: The First Fully Licensed Digital Financial Group in Hong Kong
HKbitEX, a subsidiary of Tykhe Capital, has made waves in the world of digital finance by becoming the first fully licensed digital financial group under Hong Kong’s new virtual asset trading platform licensing regime. This milestone achievement comes after the company obtained a Type 1 regulated activity license for securities trading and a Type 7 regulated activity license for automated trading services from the Hong Kong Securities and Futures Commission (SFC).
What sets HKbitEX apart is its dedication to regulatory compliance and investor protection. The company plans to offer automated trading and over-the-counter services for popular virtual assets like Bitcoin and Ethereum, alongside compliant fiat currency deposit and withdrawal services. Furthermore, HKbitEX is looking to expand its offerings to include automated trading services for security tokens once it receives approval for tokenization from the SFC.
Dr. Gao Han, Chairman of Tykhe Capital and CEO of HKbitEX, expressed his excitement about the license approval, emphasizing the company’s commitment to building a compliant and stable ecosystem for stablecoins in Hong Kong. This commitment aligns with HKbitEX’s goal of establishing the city as an international asset management center in the new Web3 era.
In addition to its virtual asset trading platform, HKbitEX’s sister company, Pioneer Asset Management Limited, has also made significant strides in the tokenization space. Pioneer was the first company to receive approval from the SFC for fund tokenization, launching Hong Kong’s first tokenized commercial real estate fund in September. This demonstrates the group’s ongoing commitment to innovation and compliance in the evolving digital financial landscape.
As part of Tykhe Capital Group Limited, HKbitEX operates alongside other subsidiaries like Pioneer and ON1ON Custody, each focusing on different aspects of the digital financial world. Together, these companies offer end-to-end services related to tokenized assets, capital markets, wealth management, and technology development, all under strict regulatory oversight and compliance.
Under the new licensing regime, all virtual asset trading platforms in Hong Kong must obtain licenses from the SFC to operate legally. For platforms that did not receive licenses by the deadline, they are required to cease operations in Hong Kong. This illustrates the importance of regulatory compliance and investor protection in the fast-evolving world of digital finance.
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