Business
HKVAX Awarded License to Operate Third Cryptocurrency Exchange in Hong Kong, Aims to Establish City as Asia’s STO and RWA Centre
HKVAX, a Hong Kong-based company, has been given a new license to run the city's third cryptocurrency exchange. The company, known as Hong Kong Virtual Asset Exchange, plans to provide services such as over-the-counter trading, exchange, and custody.
HKVAX, leveraging their proficiency in security token offerings (STO) and real-world asset (RWA) tokenisation, plans to provide over-the-counter trading, exchange, and safekeeping services, as declared in the company's announcement on Friday.
The permit "shows Hong Kong's determination to spearhead the digital-asset sector", while HKVAX is looking to position the city as the hub for STO and RWA in Asia and beyond, according to a statement by co-founder and CEO Anthony Ng.
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The financial conference in Hong Kong concludes positively, indicating the city is returning to normal operations.
The firm mentioned on its website that its trading platform and onboarding system are still in the last stages of getting ready.
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