The HashKey Group, an Asian entity specializing in digital
asset services, has unveiled the HashKey Global exchange after securing a
license in Bermuda to provide regulated digital asset trading services. The
announcement was made today (Monday), marking a milestone for the firm
headquartered in Hong Kong, with operational presence in Singapore and Tokyo.
With the unveiling of HashKey Global, the firm is poised to
expand its offerings, starting with spot trading services for 21 digital
assets. Among the featured assets are popular cryptocurrencies such as bitcoin, ether, Tether’s USDT, and Circle’s USDC. Additionally, the
exchange has revealed plans to introduce futures trading product services in
the coming weeks, further diversifying its portfolio and catering to the needs
of its clientele.
“HashKey Group aims to establish one of the world’s largest
clusters of licensed exchanges within the next 5 years, surpassing all current
regulated exchanges,” said Livio Weng, COO of HashKey Group.
The HashKey Group attained unicorn
Unicorn
Unicorns represent privately held startup companies whose value exceeds $1 billion. The term itself was coined by venture capitalist Aileen Lee back in 2013, with Unicorns since assuming the gold standard of companies.At the time of writing, approximately 465 unicorns exist, with standouts becoming ubiquitous in everyday life. This includes Ant Financial, DiDi, Airbnb, Stripe, Lyft, and Palantir Technologies, among many others.While all wildly successful, many unicorns are themselves the product
Unicorns represent privately held startup companies whose value exceeds $1 billion. The term itself was coined by venture capitalist Aileen Lee back in 2013, with Unicorns since assuming the gold standard of companies.At the time of writing, approximately 465 unicorns exist, with standouts becoming ubiquitous in everyday life. This includes Ant Financial, DiDi, Airbnb, Stripe, Lyft, and Palantir Technologies, among many others.While all wildly successful, many unicorns are themselves the product Read this Term status earlier this year
following a fundraising round. The infusion of capital, which brought the
company “nearly” to its $100 million fundraising objective, bolstered
its position in the industry.
Establishing HashKey Global in Bermuda’s Favorable
Regulatory Landscape
The choice to set up HashKey Global in Bermuda highlights
the firm’s emphasis on operating within a regulated framework, with a
commitment to compliance
Compliance
In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a
In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with industry standards and the cultivation of trust
among investors and stakeholders. Bermuda’s favorable regulatory environment
has positioned it as an appealing jurisdiction for companies exploring
opportunities in the digital asset sector while maintaining adherence to
rigorous regulatory protocols.
Earlier, HashKey
obtained all necessary licenses, making it the first Hong Kong firm to
offer crypto retail trading, as reported by Finance Magnates. This achievement
marks a notable milestone in legal regulations, as it updated Type 1 and Type 7
licenses issued by the Securities and Futures Commission, allowing it to
operate a virtual asset trading platform and provide automatic trading services
to both institutional and retail users.
The HashKey Group, an Asian entity specializing in digital
asset services, has unveiled the HashKey Global exchange after securing a
license in Bermuda to provide regulated digital asset trading services. The
announcement was made today (Monday), marking a milestone for the firm
headquartered in Hong Kong, with operational presence in Singapore and Tokyo.
With the unveiling of HashKey Global, the firm is poised to
expand its offerings, starting with spot trading services for 21 digital
assets. Among the featured assets are popular cryptocurrencies such as bitcoin, ether, Tether’s USDT, and Circle’s USDC. Additionally, the
exchange has revealed plans to introduce futures trading product services in
the coming weeks, further diversifying its portfolio and catering to the needs
of its clientele.
“HashKey Group aims to establish one of the world’s largest
clusters of licensed exchanges within the next 5 years, surpassing all current
regulated exchanges,” said Livio Weng, COO of HashKey Group.
The HashKey Group attained unicorn
Unicorn
Unicorns represent privately held startup companies whose value exceeds $1 billion. The term itself was coined by venture capitalist Aileen Lee back in 2013, with Unicorns since assuming the gold standard of companies.At the time of writing, approximately 465 unicorns exist, with standouts becoming ubiquitous in everyday life. This includes Ant Financial, DiDi, Airbnb, Stripe, Lyft, and Palantir Technologies, among many others.While all wildly successful, many unicorns are themselves the product
Unicorns represent privately held startup companies whose value exceeds $1 billion. The term itself was coined by venture capitalist Aileen Lee back in 2013, with Unicorns since assuming the gold standard of companies.At the time of writing, approximately 465 unicorns exist, with standouts becoming ubiquitous in everyday life. This includes Ant Financial, DiDi, Airbnb, Stripe, Lyft, and Palantir Technologies, among many others.While all wildly successful, many unicorns are themselves the product Read this Term status earlier this year
following a fundraising round. The infusion of capital, which brought the
company “nearly” to its $100 million fundraising objective, bolstered
its position in the industry.
Establishing HashKey Global in Bermuda’s Favorable
Regulatory Landscape
The choice to set up HashKey Global in Bermuda highlights
the firm’s emphasis on operating within a regulated framework, with a
commitment to compliance
Compliance
In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a
In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with industry standards and the cultivation of trust
among investors and stakeholders. Bermuda’s favorable regulatory environment
has positioned it as an appealing jurisdiction for companies exploring
opportunities in the digital asset sector while maintaining adherence to
rigorous regulatory protocols.
Earlier, HashKey
obtained all necessary licenses, making it the first Hong Kong firm to
offer crypto retail trading, as reported by Finance Magnates. This achievement
marks a notable milestone in legal regulations, as it updated Type 1 and Type 7
licenses issued by the Securities and Futures Commission, allowing it to
operate a virtual asset trading platform and provide automatic trading services
to both institutional and retail users.
Crypto.com, a global cryptocurrency exchange, unveiled plans
today (Tuesday) to introduce a specialized trading platform application
designed exclusively for the Korean market. The application, tailored to cater
to the preferences and needs of Korean users, is set to be launched on April
29, 2024, offering trading between various cryptocurrencies.
With this development, Crypto.com becomes the first
international cryptocurrency exchange to venture into the Korean market,
signaling its focus on expanding its global footprint. The Chief Operating
Officer of Crypto.com, Eric Anziani, highlighted Korea’s tech-savvy populace
and its inclination towards embracing innovative technologies as key factors
driving the decision to focus on the Korean market. Moreover, he emphasized
Korea’s influence as a cultural powerhouse, indicating the exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term‘s intention
to support Korean creators and artists through strategic partnerships.
Eric Anziani, Chief Operating Officer of Crypto.com, Source: LinkedIn
“The first product we will be launching in Korea is the
crypto.com app, which is our most popular product globally. It’s a fully mobile
product offering a convenient and safe way to buy, sell and store digital
assets, including non-fungible tokens, enabling Korean customers to access
global prices in a regulated manner,” he commented.
Patrick Yoon, the General Manager of Crypto.com’s Korean
operations, emphasized the company’s dedication to catering to the unique
demands of the Korean market. He stated that Crypto.com has been prioritizing
localization efforts for the past two and a half years, ensuring that its
services align with the preferences and regulatory requirements of Korean
users.
“Once our coin trading service is stabilized in the
Korean market, we plan to ultimately advance into the Korean won-based trading
market in the future,” Yoon added.
📰 Just IN: https://t.co/MVDkYuc3ge plans to launch https://t.co/MVDkYuc3ge Korea exchange utilizing subsidiary OKBit’s VASP rights, valid until this year, as exclusively reported by News 1. With OKBit’s VASP authority obtained in 2021, https://t.co/MVDkYuc3ge aims to enter…
— BitcoinWorld Media (@ItsBitcoinWorld) April 1, 2024
Navigating Regulatory Landscape for Korean Market Entry
Patrick Yoon, General Manager of Crypto.com, Korea, Source: LinkedIn
One such regulatory requirement in Korea mandates
cryptocurrency exchanges to establish partnerships with commercial banks to
verify the real-name accounts of their customers. Yoon revealed ongoing
discussions with local banks to secure potential partnerships for real-name
account authentication.
Presently, there are five won-based cryptocurrency exchanges
authorized by Korean financial authorities, including UpBit, Bithumb, Coinone,
Korbit, and GOPAX. By entering the Korean market, Crypto.com aims to provide
users with an alternative trading platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term while fostering healthy competition
and innovation in the local cryptocurrency ecosystem.
Crypto.com, a global cryptocurrency exchange, unveiled plans
today (Tuesday) to introduce a specialized trading platform application
designed exclusively for the Korean market. The application, tailored to cater
to the preferences and needs of Korean users, is set to be launched on April
29, 2024, offering trading between various cryptocurrencies.
With this development, Crypto.com becomes the first
international cryptocurrency exchange to venture into the Korean market,
signaling its focus on expanding its global footprint. The Chief Operating
Officer of Crypto.com, Eric Anziani, highlighted Korea’s tech-savvy populace
and its inclination towards embracing innovative technologies as key factors
driving the decision to focus on the Korean market. Moreover, he emphasized
Korea’s influence as a cultural powerhouse, indicating the exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term‘s intention
to support Korean creators and artists through strategic partnerships.
Eric Anziani, Chief Operating Officer of Crypto.com, Source: LinkedIn
“The first product we will be launching in Korea is the
crypto.com app, which is our most popular product globally. It’s a fully mobile
product offering a convenient and safe way to buy, sell and store digital
assets, including non-fungible tokens, enabling Korean customers to access
global prices in a regulated manner,” he commented.
Patrick Yoon, the General Manager of Crypto.com’s Korean
operations, emphasized the company’s dedication to catering to the unique
demands of the Korean market. He stated that Crypto.com has been prioritizing
localization efforts for the past two and a half years, ensuring that its
services align with the preferences and regulatory requirements of Korean
users.
“Once our coin trading service is stabilized in the
Korean market, we plan to ultimately advance into the Korean won-based trading
market in the future,” Yoon added.
📰 Just IN: https://t.co/MVDkYuc3ge plans to launch https://t.co/MVDkYuc3ge Korea exchange utilizing subsidiary OKBit’s VASP rights, valid until this year, as exclusively reported by News 1. With OKBit’s VASP authority obtained in 2021, https://t.co/MVDkYuc3ge aims to enter…
— BitcoinWorld Media (@ItsBitcoinWorld) April 1, 2024
Navigating Regulatory Landscape for Korean Market Entry
Patrick Yoon, General Manager of Crypto.com, Korea, Source: LinkedIn
One such regulatory requirement in Korea mandates
cryptocurrency exchanges to establish partnerships with commercial banks to
verify the real-name accounts of their customers. Yoon revealed ongoing
discussions with local banks to secure potential partnerships for real-name
account authentication.
Presently, there are five won-based cryptocurrency exchanges
authorized by Korean financial authorities, including UpBit, Bithumb, Coinone,
Korbit, and GOPAX. By entering the Korean market, Crypto.com aims to provide
users with an alternative trading platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term while fostering healthy competition
and innovation in the local cryptocurrency ecosystem.
Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.
Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.
The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.
Boost + Breach
While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.
Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.
“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.” – Eyhab Aejaz, Co-Founder & CEO at Breach
To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.
“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.” – Alex Maffeo, CEO & Founder of Boost
In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.
“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.” – Joe Ziolkowski, CEO at Relm
On August 23rd, Derivatives Exchange Bitget announced its new logo designed to indicate a place where people can exchange freely and realize their financial dreams with the help of leverage.
According to Bitget, Bit is a blended word coming from Binary and digit and the smallest unit of information. It implies a business that is based on digitalization and IT. “Get” represents interaction, a kind of connection between the platform and the external world. In combination, the name Bitget expresses its mission “Better Trading Better Life”, and its commitment to offer liberal, ultimate and fair trading services.
The new LOGO uses two interactive arrows to symbolize the liquidity and activity of Bitget and its pursuit of freedom and fairness. It also reflects the nature of platform trading. The interactive image shows that Bitget will always put users first and lead users to success and fortune through transactions. The newly adopted blue color represents the energy and vitality of the crypto industry and delivers a sense of boldness and creativity — an image the platform wants to show to its users.
The new logo is a testament to Bitget’s achievements in the past and an embodiment of its vision for the future. In just three years since its establishment, the platform has successfully made itself into the Top6 derivative exchange, closely after the professional ones FTX and Bybit. Bitget now has more than 1.6 million registered users in 48 countries and regions, including Japan, South Korea, Vietnam, Russia and Turkey, with an average daily trading volume of $5.6 billion. It has become one of the fastest-growing derivatives exchanges in the world.
According to its CEO Sandra, Bitget will continue to dive deeper into derivatives trading in the remaining months of the year. It aims to bring users products and services focused on futures, and expand to global markets such as South America, Japan, Central Europe, and Russia under the principle of compliant and localized operations. As Bitget steps up its globalization efforts and connects with users from more countries, a simpler and unique logo to display a new corporate culture and values become a necessity.
Last month, it released a new slogan “Better Trading Better Life”, indicating that every user across the world can enjoy a liberal, ultimate and fair trading experience on Bitget and realize their financial dreams with the help of leverage. “The new logo conveys not only a change of appearance but also a stronger inner spirit. The updated logo and slogan deliver a message that is in line with our corporate culture. In the future, Bitget will bring more surprises to users with our brand new image.” says Sandra.
About Bitget
Established in July 2018, Bitget is one of the world’s fastest-growing derivatives exchanges that support futures trading, spot trading and crypto asset purchasing. As a platform in pursuit of perfection and innovation, Bitget has pioneered to launch three flagship products of USDT-Margined Futures, One-Click Copy Trade, and Quanto Swap Futures to provide the best services to users. It is now the Top6 derivatives exchange and the largest crypto copy trading platform in the world.
