Source: Bailu Living Room
The official website of the Hong Kong Securities and Futures Commission shows that on October 10, Meex Digital Securities Limited formally submitted a license application and entered the list of applicants for virtual asset trading platforms. The name of the virtual asset trading platform is Meex.
On September 9, the Hong Kong Securities and Futures Commission met with the media on virtual asset trading platforms and announced a list of four applicants for virtual asset trading platforms (VATP), namely HKVAX, HKBitEx, HongKong BGE Limited and Victory Fintech. After the list was updated, the total number of licensed virtual asset exchanges was 25, and the total number of applicants for virtual asset trading platforms reached 4.
In previous articles, we have introduced the two major licensed virtual asset exchanges in Hong Kong and the other four virtual asset trading platform license applicants in detail. For details, please refer to: 2-word article! In-depth strength comparison of the six major virtual asset licensed/application trading platforms in Hong Kong
This article will introduce the new applicant Meex.
Meex is supported by a Hong Kong consortium and is jointly created by former core executives of the world's top exchanges, licensed personnel of the Hong Kong Securities Regulatory Commission, and legal professionals. The Meex team firmly believes that in the world of virtual assets, security can win the trust of customers, and compliance can lead to long-term stability. Therefore, from the technical foundation to corporate governance, security and compliance are taken as principles and foundations, striving to make customers feel more assured and at ease while enjoying the world of virtual assets.
MEEX customer assets are independently managed by Meex Custody Services Limited (TCSP No. 008898), a TCSP licensed company, in strict accordance with the regulations of the Securities and Futures Commission. Currently, Meex is preparing to apply for Type 1, Type 7 and VASP licenses from the Hong Kong Securities and Futures Commission with the assistance of Jun He Law Firm.
Jason, co-CEO of MEEX Holdings, has publicly stated that compliance and security have been one of the basic concepts of the Meex platform since its establishment. They have ensured native compliance in terms of underlying technology, and have built a sound internal management and compliance process, investing a lot of resources and technology to ensure the security and compliance of the platform. The importance of compliance licenses is not only to regulate the behavior of virtual asset exchanges, but more importantly to incorporate these exchanges into the system of Hong Kong financial institutions. This enables them to be in the same regulatory system as financial institutions such as banks, securities firms, insurance, trusts and asset management, and share Hong Kong's strong and sound financial system and infrastructure.
Technical advantages
Security is the core consideration of Meex. It adopts industry-leading military-grade security technology, including multiple encryption, cold storage, dual authentication and other measures. The cold wallet used complies with FIPS140-2 Level3 international certification to fully protect the security of user assets.
The core technical team members are all from the core technical teams of the world's top 3 virtual asset trading platforms, including many former Huobi members.
Team Background
Co-founder Simon Wu was formerly the Chief Security Officer of Huobi and CSO & CEO of Huobi Technology. He is a top virtual asset security technology expert in the industry.
Head of Operations Vince Lam previously served as Head of Operations at HKbitEX, an exchange that is also applying for a license.
Other members of the management team include senior executives of Hong Kong licensed companies No. 1, 4 and 9, Hong Kong licensed lawyers, and other individuals with experience in virtual assets and Hong Kong compliant financial institutions.
external cooperation
Currently, Meex has publicly disclosed two partners.
On September 9, Meex Digital Securities Limited (Meex) and ZA International (ZhongAn International) announced today (15th) that they have signed a strategic cooperation agreement. The former will integrate digital asset trading and custody services in the future, while ZA International will also provide corresponding financial services. They are looking for growth opportunities in the Web15 field for the Asian market.
The agreement is a cooperation in the form of a Memorandum of Understanding (MOU). Meex and ZA International will use their respective resources, expertise and experience in digital assets, Web3 and distributed ledger technology (DLT) to jointly seek opportunities in the blockchain ecosystem.
On September 9, Meex also signed a strategic cooperation agreement with Huawei Cloud Hong Kong in the form of a memorandum of understanding (MOU). In the future, Meex will work closely with Huawei Cloud to jointly exchange, cooperate and innovate in the research, testing, implementation and commercialization of the infrastructure of a compliant virtual asset trading platform in Hong Kong.
In this regard, Jason, co-president of Meex, said: I believe that this cooperation will bring greater innovation potential and competitive advantages to Meex, and will also promote the development of the entire industry.
Meex's advantage and focus is security. The rich experience of the former Huobi team gives them considerable confidence to re-establish their position in Hong Kong. However, in today's Hong Kong Web3 environment where money is so expensive, how far Meex can advance with the support of local consortiums alone, we still need to wait and see.