Latest news with #HashKey
Crypto Insight
3 days ago
- Business
- Crypto Insight
Hong Kong to permit crypto derivatives for professional investors: Report
Hong Kong's securities regulator aims to introduce digital asset derivatives trading for professional investors as part of a broader strategy to expand product offerings and reinforce the city's role in the global digital asset market, local media reported. Christopher Hui Ching-yu, secretary for Financial Services and the Treasury, confirmed the move on June 4, according to a report by the English-language newspaper China Daily HK. The Hong Kong Securities and Futures Commission (SFC) said that priority will be given to sound risk management, with trades conducted 'in an orderly, transparent and secure manner,' the report said. Hong Kong's reported push into crypto derivatives comes as the global digital asset market surpassed $3 trillion in value, with annual trading volumes exceeding $70 trillion, according to SFC data cited by China Daily HK. The regulator, earlier this year, set out plans to diversify virtual asset products available to investors. It has since approved staking services and greenlit virtual asset spot ETFs and futures products. In April 2025, HashKey received approval to offer staking services. Hong Kong to optimize tax framework Hui also reportedly said that Hong Kong is optimizing its tax framework to attract international players. Digital assets will soon qualify for tax concessions under Hong Kong's preferential tax regime for funds, single-family offices and carried interest. The special administrative region has been promoting its fintech ecosystem across the Greater Bay Area and mainland China. Agencies like Invest Hong Kong and the Hong Kong Key Enterprises Office are offering one-stop services and helping firms navigate licensing, tax incentives and regulatory requirements. The efforts appear to be bearing fruit. Hui reportedly said that Hong Kong is home to more than 1,100 fintech companies, including eight licensed digital banks, four virtual insurers and 10 regulated virtual asset trading platforms. Since its first virtual asset policy statement in October 2022, the city has introduced Asia's first VA futures ETFs, spot ETFs in April 2024 and futures inverse products in July 2024, broadening its crypto market offerings. In September 2024, two top-level Hong Kong financial regulators co-announced their intent to adopt reporting requirements set by the European Securities and Markets Authority (ESMA) for crypto over-the-counter (OTC) derivatives. Hong Kong prepares for a second virtual asset policy statement In April, Hong Kong revealed that it is preparing to release its second policy statement on virtual assets later this year, aiming to further integrate Web3 technologies into traditional finance. Furthermore, in May, the city's Legislative Council passed the Stablecoin Bill, paving the way for a regulated framework that could position the region as a global leader in digital assets and Web3 development. Source:
Cision Canada
12-05-2025
- Business
- Cision Canada
HashKey Group Announces Launch of HashKey Global MENA with VASP License in UAE
HONG KONG, May 12, 2025 /CNW/ -- HashKey Group ("HashKey"), a leading end-to-end digital asset financial services group in Asia Pacific, has secured a Virtual Asset Service Provider (VASP) license from Dubai Virtual Assets Regulatory Authority (VARA). The license was granted to HashKey MENA FZE, the operating entity of HashKey Global MENA, marking the official launch of the company in the United Arab Emirates (UAE). With this license, HashKey Global MENA is authorized to provide both Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services within, and originating from, the Emirate of Dubai. Securing the VASP license represents a significant milestone in HashKey's market expansion strategy into the region. As the UAE continues to establish itself as the premier hub for digital assets in the Middle East, HashKey Global MENA will cater to consumers and enterprises seeking trusted, compliant access to virtual asset services. To meet the growing institutional needs, the company will introduce a suite of products and services distinguished by several best in class features: USD and AED Deposits & Withdrawals: Offers fiat on and off-ramp, allowing users to directly transfer USD from their bank account to HashKey Global MENA's fiat wallet. As a strategic partner, Standard Chartered provides fiat currency deposit and withdrawal services for the platform. Powered by the bank's industry-leading (on & off)-ramp solution, the platform offers users a reliable, and highly efficient fiat deposit and withdrawal experience. OTC Services: HashKey Global MENA OTC delivers regulated block trading with competitive all-inclusive pricing, ensuring transparent quotes and zero hidden fees for market-leading rates. Large orders benefit from instant execution, eliminating slippage risks, while flexible settlement options cater to institutional and HNWI liquidity needs. Major Top 10 Tokens Available For OTC: Access top-tier cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), alongside stablecoins (USDT, USDC), available through OTC services through on and off ramps using USD and AED. BTC and ETH remain the most sought-after tokens, offering trusted liquidity and alignment with institutional demand. All assets are custodied on a VARA-licensed platform with institutional-grade safeguards. "As a licensed platform, HashKey Global MENA embraces institutional needs by offering a regulated gateway for fiat-crypto transactions, backed by institutional-grade safeguards and strategic partnerships like Standard Chartered. Our regional expansion ambitions, with a strategic focus on the GCC, are rooted in empowering MENA's institutions and HNWIs with seamless, cost-efficient access to global crypto markets, reinforcing the UAE's position as a hub for blockchain innovation while prioritizing compliance and client protection at every step," said Sherif Sanad, Country Manager, HashKey Global MENA. The UAE has firmly established itself as the third-largest crypto economy in the MENA region. To meet the needs of this rapidly expanding market, HashKey Global MENA will deliver not just virtual asset trading services, but will continue to evolve and develop innovative digital asset products, designed and delivered within VARA's robust regulatory and compliance framework. "At HashKey, we believe innovation in crypto shouldn't come at the cost of compliance. In fact, the industry's future depends on building boldly—while staying within clear, trusted regulatory frameworks. That's why we're committed to working closely with regulators around the world to deliver reliable digital asset products and services on a global scale," said Sherif Sanad, Country Manager, HashKey Global MENA. HashKey Group already holds digital asset-related licenses from regulators in Hong Kong, Singapore, Japan, and Bermuda, as well as VASP registration in Ireland. As part of its ongoing commitment to building a world-class regulatory footprint, the company is also actively pursuing a Markets in Crypto-Assets (MiCA) license in the European Union. The HashKey Global MENA exchange will be live starting from May 19th.
Yahoo
19-04-2025
- Business
- Yahoo
HashKey Capital to Debut Asian XRP Tracker Fund With Ripple as Anchor Investor
HashKey Capital announced what it says is the first investment fund in Asia designed to track the performance of XRP, the digital asset used in Ripple's global payment infrastructure. The new fund, called the HashKey XRP Tracker Fund, will be open to professional investors and will allow exposure to XRP without the need to manage the asset directly. It will offer the ability to buy through cash and in-kind subscriptions, and offers monthly liquidity. Ripple will be an early backer of the fund. The investment deepens its strategic ties with HashKey, which already has Hong Kong-listed spot ETFs for bitcoin (BTC) and ether (ETH). The company will continue to partner with Ripple on additional financial products, Vivien Wong, a partner at HashKey Capital, said in a statement. One possibility includes tokenizing a money market fund on the XRP Ledger. Ripple's Asia-Pacific managing director Fiona Murray said the partnership with HashKey is part of a broader push to bring more regulated crypto products to institutions in the region.
Yahoo
19-04-2025
- Business
- Yahoo
HashKey Capital to Debut Asian XRP Tracker Fund With Ripple as Anchor Investor
HashKey Capital announced what it says is the first investment fund in Asia designed to track the performance of XRP, the digital asset used in Ripple's global payment infrastructure. The new fund, called the HashKey XRP Tracker Fund, will be open to professional investors and will allow exposure to XRP without the need to manage the asset directly. It will offer the ability to buy through cash and in-kind subscriptions, and offers monthly liquidity. Ripple will be an early backer of the fund. The investment deepens its strategic ties with HashKey, which already has Hong Kong-listed spot ETFs for bitcoin (BTC) and ether (ETH). The company will continue to partner with Ripple on additional financial products, Vivien Wong, a partner at HashKey Capital, said in a statement. One possibility includes tokenizing a money market fund on the XRP Ledger. Ripple's Asia-Pacific managing director Fiona Murray said the partnership with HashKey is part of a broader push to bring more regulated crypto products to institutions in the region. Sign in to access your portfolio
Yahoo
18-04-2025
- Business
- Yahoo
Ripple Partners With HashKey Capital To Launch XRP Tracker Fund in Asia
Ripple has announced a collaboration with HashKey Capital to launch the HashKey XRP Tracker Fund, the first investment fund in Asia designed to track the performance of XRP. Ripple will serve as the anchor investor, seeding the initial investment for the fund, which aims to provide professional investors with exposure to XRP without requiring direct ownership. The fund will allow investors to subscribe or redeem shares on a monthly basis and offers the option to invest through cash or in-kind subscriptions. Vivien Wong, a partner at HashKey Capital, emphasized the innovative nature of XRP, noting its appeal to global enterprises for transactions, tokenization, and value storage. Launching the HashKey XRP Tracker Fund is part of a broader strategy, with Ripple and HashKey Capital planning further collaborations on investment products and solutions in areas such as cross-border payments, decentralized finance (DeFi), and enterprise blockchain adoption. Fiona Murray, Managing Director for Asia-Pacific at Ripple, highlighted the growing demand among institutional investors for regulated products in the region. She stated that the fund aims to bolster Asia's leadership in crypto and blockchain technologies. XRP currently ranks as the world's third-largest crypto by market capitalization, standing at approximately $121 billion. Market speculation around a potential spot XRP exchange-traded fund (ETF) is also growing, with Standard Chartered anticipating approval in the third quarter, potentially unlocking significant inflows for the market. As several firms pursue the launch of a spot XRP ETF, the U.S. Securities and Exchange Commission is expected to respond to Grayscale's filing by May 22. Sign in to access your portfolio
