OSL Digital Securities said retail investors can sign up to trade BTC and ETH immediately.
HashKey Exchange and OSL Digital Securities Ltd. have received Hong Kong’s first cryptocurrency exchange licenses under a new regime that allows exchanges to serve retail clients.
HashKey Exchange, a subsidiary of digital asset financial services company HashKey Group, announced on Thursday that it had obtained a license, saying that in addition to the professional investors it has been serving, it can now expand its business scope to retail users. Shortly afterwards, OSL Digital Securities, a subsidiary of Hong Kong BC Technology Group Ltd, also announced that it has also obtained a license to provide services to retail customers.
Both entities were already licensed under Hong Kong’s previous opt-in licensing regime for crypto-asset service providers, which could help speed up the new approvals.
“As an existing Type 1 and Type 7 license holder, HashKey Exchange successfully obtained a license upgrade through a streamlined process…to expand its business scope from serving professional investors to retail users, meeting market demand for a licensed platform that provides users with a safer and simpler process for purchasing and storing cryptocurrencies,” the exchange said.
Earlier, HashKey Group announced plans to launch a regulated exchange to serve retail customers in the second quarter and said it planned to raise funds at a valuation of $10 billion to take advantage of Hong Kong’s resurgence as a potential crypto hub.
“Effective immediately, OSL Digital Securities will enable retail investors to register and access digital asset products on its platform, starting with popular cryptocurrencies Bitcoin (BTC) and Ethereum (ETH),” the exchange said in a press statement.
Hong Kong's Securities and Futures Commission, which issues licenses, did not immediately respond to a request for comment.