Breaking News: OKX Expands Cryptocurrency Offering in Hong Kong with 16 Major Coins

OKX, a prominent Web3 technology company and the world’s second-largest cryptocurrency exchange in terms of trading volume has unveiled an enhanced version of its application. This upgraded app now offers Hong Kong users a secure and reliable platform for engaging in spot trading of virtual assets.

As part of this announcement, OKX disclosed the list of tokens available for retail investors in Hong Kong. The selection includes popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), ADA, MATIC, SOL, Polkadot(DOT), UNI, LINK, SAND, Litecoin(LTC), AVAX, AXS, ATOM, XLM, USDT, and USDC.

In anticipation of Hong Kong’s upcoming regulatory framework for Virtual Asset Service Providers (VASPs), OKX has been making preparations by establishing a local entity for its license application. The application will be submitted prior to the implementation of the new regulatory regime on June 1, 2023. Throughout the past year, OKX has taken significant measures to strengthen its operations and controls, ensuring compliance with the expected regulatory requirements.

Hong Kong, the Cryptocurrency Hub

OKX actively engages with government authorities to demonstrate its robust security measures, custody solutions, anti-money laundering (AML) protocols, and compliance capabilities. The goal is to meet the stringent standards expected of licensed Virtual Asset Service Providers (VASPs).

Lennix Lai, Chief Commercial Officer at OKX Global, emphasized the company’s unwavering commitment to delivering a secure and user-friendly cryptocurrency trading experience to its users. Lai also expressed OKX’s dedication to working closely with regulators throughout the licensing process under the new VASP regime.

OKX’s enhancement of its app to provide secure spot trading of virtual assets to Hong Kong users demonstrates its commitment to meeting regulatory requirements and delivering a reliable and user-friendly trading experience.

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