HashKey Exchange and OSL have received license uplifts from local regulators in Hong Kong, allowing them to serve retail cryptocurrency users in the region. HashKey Exchange was previously limited to serving professional and institutional investors but has now obtained Type 1 and Type 7 licenses from the Hong Kong Securities and Futures Commission (SFC), enabling it to become a licensed retail exchange. OSL also received a license uplift from the SFC, allowing it to offer its services to retail customers. Both exchanges are now providing retail trading services to cryptocurrency users in Hong Kong. HashKey Exchange aims to onboard 500,000 to one million users by the end of 2023, while OSL predicts that Hong Kong’s crypto user base will increase to 10-15 million over the next two years. The favorable regulatory environment in Hong Kong is attracting global players like Binance, indicating the region’s potential as a major cryptocurrency hub.
