Exclusive Interview with HashKey PRO: Has Reached Cooperation with Zhongan Bank, Currently Supporting SWIFT Bank Transfers in 16 Countries and Regions

Exclusive Interview with HashKey PRO: Cooperates with Zhongan Bank, Supporting SWIFT Transfers in 16 Countries/Regions

HashKey PRO, as one of the two compliant cryptocurrency exchanges in Hong Kong, submitted the application form for the VASP license as soon as it opened for application. Now, they are waiting for the license to be issued so that they can open retail business. Currently, HashKey PRO is making final preparations, including undergoing audits from the Big Four accounting firms, continuously improving the user KYC process, and providing support for fiat deposits and withdrawals. From the beginning, HashKey PRO was designed and developed in accordance with the structure of licensed exchanges, and has accumulated a lot of experience in serving professional investors. In this interview, HashKey PRO talks about their predictions for the future policy trends in Hong Kong and what they have done to welcome retail investors.

Blocking: What preparations have you made to welcome retail investors? Have you done anything in terms of team preparation or exchange business sections? Is there any difference between trading for retail investors and trading for professional investors and institutions?

HashKey PRO: The new Hong Kong regulations have opened up retail trading this time. As one of the two exchanges that previously held the 1 and 7 licenses, HashKey PRO will use a simplified process to apply for the new license under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615) and completed the license application submission to the Hong Kong Securities and Futures Commission at the first time. Subsequently, it will conduct a systematic review and adjustment in accordance with the requirements of the guidelines to ensure that the platform complies with the latest regulatory requirements. In addition, it is also necessary to finally confirm the virtual assets that support the initial transaction, including risk assessment and submission of relevant materials. This is to ensure that the trading assets are fully reviewed and prepared before retail business is provided.

Previously, HashKey PRO has accumulated rich experience in serving professional investors (PI). In terms of fund security, strict protection measures have been taken for retail investors, professional investors, and institutional trading. Customer funds are stored in isolation to ensure that they are separate from company funds, and HashKey PRO also has a complete third-party insurance protection system to provide additional protection for investors. Specifically, retail users will have more diverse requirements in mobile experience, platform interaction, and ease of use, and the platform will also conduct more comprehensive testing and optimization of products to ensure that retail users have a smooth trading experience.

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With the virtual asset industry moving towards mainstream assets, the development of fiat currency channels has become crucial and is expected to connect real financial assets with virtual assets, driving the development of the cryptocurrency industry. As a licensed exchange, HashKey PRO cooperates with fiat currency channels and establishes partnerships with mainstream banks to provide investors with more convenient fund channels. With the implementation of regulatory policies in Hong Kong, it is expected that more banks will connect with the exchange, attracting more people to participate in the cryptocurrency market, bringing new capital inflows to the industry, and promoting the arrival of the next bull market.

Blocking: What role do you think HashKey PRO’s establishment in Hong Kong and its compliance will play in its global development?

HashKey PRO: As a licensed and compliant exchange, HashKey PRO is based in Hong Kong and is committed to developing the global market. HashKey PRO’s compliance practices and cooperation with global regulatory agencies will expand its business globally and provide a stable operating foundation. HashKey PRO currently supports SWIFT bank transfers from 16 countries and regions around the world, and will also cooperate with more mainstream banks to open fiat currency channels, providing global users with a convenient and secure trading environment and promoting the convenience of global cryptocurrency asset transactions. This will help establish trust and transparency in the cryptocurrency asset industry, promote its standardization and sustainable development worldwide.

Blocking: What did HashKey PRO need to do to comply with anti-money laundering requirements during the previous compliance process, and how did it cooperate with regulatory authorities?

HashKey PRO: HashKey PRO’s main body continues to be audited by the Big Four accounting firms. In the compliance process, in order to comply with anti-money laundering requirements, the platform needs to cooperate with regulatory authorities to perform a series of operations. First, HashKey PRO submitted a licensing application to accept the supervision of the Hong Kong Securities and Futures Commission. This is an important step to ensure compliant operations. Secondly, the platform was designed and developed in accordance with relevant regulations, focusing on asset protection and anti-money laundering requirements. In addition, it is necessary to actively respond to the virtual asset trading platform guidelines issued by the Hong Kong Securities and Futures Commission, and further adjust and review the platform to ensure compliance with the latest regulatory requirements. The platform also conducts asset reviews and risk assessments, and submits relevant materials to ensure that trading assets are fully reviewed and prepared. HashKey PRO is committed to providing investors with a safe and compliant trading environment, and works closely with regulatory authorities to ensure compliance with regulatory requirements.

Blocking: Looking at the regulatory path of encryption in the United States, do you think that the current United States will be the future of Hong Kong? Are there concerns that some future regulatory policies may be detrimental to the industry’s development?

HashKey PRO: Although law enforcement actions in the United States have increased significantly recently, the market regulation is relatively loose, without clear rules and standards, while Hong Kong pays more attention to strict compliance requirements and maintains close communication with regulatory agencies. Hong Kong has its own legal and regulatory framework, and has always attached importance to the compliance and stability of the financial market. The licensing initiative in Hong Kong can provide investors with more reliable and compliant investment channels, which is also one of the development directions of the Asian market.

The changes in regulatory policies will have certain impacts and challenges on the industry. In the future, some new regulatory policies will also be introduced, and the specific impact of these policies remains to be observed. As an international financial center, Hong Kong will continue to uphold an open and innovative attitude, and take into account the needs of the industry and the stability of the market when formulating regulatory policies.

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