Latest news with #HashKeyGroup
Yahoo
30-05-2025
- Business
- Yahoo
HashKey Group Lists XRP for Institutional Investors in Asia
Hong Kong-based trading platform HashKey Group has announced the listing of XRP XRP for professional investors. The company said in a tweet that spot XRP/USD markets are now live, although the trading pair notched just $4,000 in volume in the first hour after listing. HashKey Group is licensed by the Hong Kong Securities and Futures Commission (SFC) and targets institutional investors in Asia. The listing comes after XPR was selected as one of five assets to be included in included in the U.S. strategic crypto reserve. HashKey Group cited XRP's resurgence in late 2024 as a catalyst for this cycle's first altcoin season, and in April it rolled out Asia's first XRP tracker fund in partnership with Ripple. 'HashKey Capital has been a valued partner in expanding institutional access to XRP across Asia, " Fiona Murray, Ripple's managing director of APAC said in a press release. " From launching the region's first XRP Tracker Fund to facilitating XRP's listing on HashKey Exchange, our collaboration reflects a shared commitment to real-world utility. We look forward to advancing that momentum through responsible innovation.' XRP is currently trading at $2.19, down 4.4% over the past 24 hours following a wider crypto market sell-off that has seen bitcoin slump to $105,000. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Dogecoin, XRP Slump as Crypto Profit-Taking Continues Ahead of Friday's Inflation Data
Bitcoin BTC was just 1% lower in the past 24 hours, while XRP XRP and dogecoin DOGE slipped 2.5% each, signaling a tepid recovery rather than a firm rebound. Markets were jolted late last week after U.S. President Donald Trump proposed raising tariffs on European imports to 50%, up from a previously discussed 20%. 'Bitcoin's rebound came after Trump decided to delay imposing new EU tariffs, which had initially sparked a market downturn over the weekend,' Jeffrey Ding, chief analyst at HashKey Group, told CoinDesk in a Telegram message. 'Traders see these macroeconomic events as a welcome stability boost, encouraging a risk-on sentiment, especially as MicroStrategy's Michael Saylor hinted at upcoming Bitcoin purchases,' Ding added. Markets calmed somewhat on Monday after Trump announced he would delay the implementation of new tariffs until July 9, citing a "constructive call" with European Commission President Ursula von der Leyen. Still, Singapore-based QCP Capital warned in a market broadcast message late Monday that the episode is a reminder of how quickly policy shocks can unwind market calm. The BTC July-to-June implied volatility spread, which spiked above 2 vols last week, has now compressed to below 1 — suggesting traders are watching closely for another pivot ahead of the new deadline. The vol spread refers to the difference in expected volatility between July and June bitcoin options, showing how much more (or less) traders expect price swings in July compared to June. All eyes are now on this Friday's Core PCE print, a key inflation gauge for the Federal Reserve, the firm noted. The index is a measure of inflation that excludes the volatile prices of food and energy — and is considered a key indicator used by the Fed to assess inflation and make policy decisions. Despite the uncertainty, spot ETF inflows remain steady, with BlackRock's IBIT logging 30 consecutive days of net inflows — a rare streak that underscores sticky institutional interest. Still, crypto's resilience has been relative, not absolute. QCP noted a divergence between digital assets and traditional tech as flows have turned cautious in products like the TQQQ NASDAQ ETF, even as crypto held its ground. 'In a world of erratic policymaking,' QCP wrote, 'crypto increasingly looks like the grown-up at the table.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-05-2025
- Business
- Yahoo
Dogecoin, Cardano's ADA, XRP Fall 7% in Weekend Bloodbath
The crypto market turned red over the weekend, with Dogecoin (DOGE), Cardano's ADA, and XRP each dropping over 7% as profit-taking set in after a strong week. Bitcoin fell from a daily high of $111,200 to just over $107,000 on Friday, causing a swift change in sentiment. The drop came as President Donald Trump revived fears of a tariff war with the European Union — threatening a 50% levy as talks were 'going nowhere.' Market cap shed 5% and the broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens, fell 2.2% as traders moved to lock in gains amid rising volatility. The move comes despite bitcoin touching fresh highs above $111,500 just days earlier, with ETF inflows, stablecoin legislation, and institutional buying supporting its rally. But those same tailwinds haven't kept altcoins afloat in the short term. 'Bitcoin reaching a new all-time high also carries altcoins toward a bullish direction,' said Haiyang Ru, co-CEO of HashKey Group, said in a Telegram message. 'But if BTC's volatility picks up again, traders may rotate into regulated stablecoins — especially with new frameworks in the U.S. and Hong Kong easing that transition.' Alex Kuptsikevich, chief analyst at FxPro, crypto sentiment recently hit levels last seen in January, just as BTC and ETH reached critical resistance zones. 'Unlike previous BTCUSD rallies, the current movement is not just momentum-driven but backed by real demand and macro factors,' he noted. Still, markets are showing signs of fatigue. Ethereum is struggling to break past its 200-day moving average near $2,650, while altcoins that previously surged — such as HYPE and EIGEN — are now cooling off after double-digit gains. Analysts warn that if BTC doesn't establish a new support zone, altcoin losses could deepen. For now, the weekend pullback displays the fragility of rallies in low-liquidity conditions and the speed at which sentiment can turn. Sign in to access your portfolio
Fintech News ME
14-05-2025
- Business
- Fintech News ME
Hong Kong's HashKey Secures VASP License in Dubai, Launches Operations in UAE
HashKey Group, a digital asset financial services provider based in Hong Kong, has been granted a Virtual Asset Service Provider (VASP) license by the Dubai Virtual Assets Regulatory Authority (VARA). The license was awarded to HashKey MENA FZE, the operational entity behind HashKey Global MENA, marking the official commencement of its operations in the UAE. With this license, HashKey Global MENA is authorised to offer both virtual asset exchange services and virtual asset broker-dealer services within, and from, the Emirate of Dubai. This development is part of HashKey's broader strategy to expand its market presence in the Middle East. As the UAE continues to position itself as a key centre for digital assets in the region, HashKey Global MENA aims to serve both retail and institutional clients seeking secure and compliant access to virtual asset services. To address the increasing demand from institutional investors, the company will roll out a range of services and products. These include support for deposits and withdrawals in both US dollars and UAE dirhams, allowing users to transfer funds directly from their bank accounts into HashKey Global MENA's fiat wallet. Standard Chartered serves as a strategic partner, providing fiat currency deposit and withdrawal services. The platform benefits from the bank's established infrastructure, offering a reliable and efficient process for transferring funds. The firm also offers over-the-counter (OTC) services, providing regulated block trading with transparent pricing. This service is aimed at high-net-worth individuals and institutional clients, ensuring immediate execution for large trades and flexible settlement options. OTC services will support major cryptocurrencies, including Bitcoin and Ethereum, as well as stablecoins such as USDT and USDC, with all assets custodied on a platform licensed by VARA and protected by institutional-grade safeguards. '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 prioritising compliance and client protection at every step,' said Sherif Sanad, Country Manager, HashKey Global MENA. The UAE is currently the third-largest cryptocurrency economy in the MENA region. In response to this growing market, HashKey Global MENA plans to expand beyond trading services by developing and offering a broader range of digital asset products, all within VARA's regulatory framework. HashKey Group already holds digital asset-related licenses in Hong Kong, Singapore, Japan, and Bermuda, as well as a VASP registration in Ireland. It is also pursuing a Markets in Crypto-Assets (MiCA) license in the European Union. The HashKey Global MENA exchange is set to go live on 19 May.
South China Morning Post
07-04-2025
- Business
- South China Morning Post
Hong Kong remains upbeat on Web3 amid crypto market turmoil from US tariffs
The Hong Kong Web3 Festival opened on Monday against a backdrop of plunging global markets and a sharp downturn in cryptocurrency prices, while local officials and industry leaders expressed optimism about the industry's future given the recent policy pivot in the US. Advertisement The event, hosted by crypto exchange operator HashKey Group and blockchain research organisation Wanxiang Blockchain Labs, comes as newly imposed US tariffs have roiled stock and crypto markets. Bitcoin, the industry bellwether, plummeted again over the weekend , hovering around US$77,000 – down nearly 30 per cent from its January high of more than US$109,000, which was fuelled by exuberance over the incoming of crypto-friendly US President Donald Trump. The Hang Seng Index also suffered its steepest drop in more than 27 years on Monday amid broader market volatility. 'Hong Kong is pro-Web3,' Hong Kong Financial Secretary Paul Chan Mo-po said in his opening remarks on Monday, a day after the event's official start date. The city's approach is 'not simply about regulations', but also striking a balance without 'stifling innovation', he said. 'After all, innovation entails risks,' he added. Advertisement Securities and Futures Commission Executive Director Christina Choi Fung Yee urged businesses to 'choose Hong Kong for your Web3 projects'.
