To enhance the security of virtual currency transactions and combat illegal activities like money laundering and terrorist financing, Hong Kong has implemented an exchange licensing system effective June 1, 2023. This regulatory shift has significantly transformed the region's virtual currency market. Licensed exchanges require users to complete KYC verification before trading, offering heightened security for investors. Below, we explore the key licensed virtual asset exchanges in Hong Kong.
Top Licensed Virtual Currency Exchanges in Hong Kong
Hong Kong’s licensed virtual currency exchanges include OSL, HashKey, HKVAX, Accumulus, VDX, BGE, HKbitEX, Meex, PantherTrade, and OKX. Here’s a detailed breakdown:
1. OSL
- Background: First licensed virtual asset platform in Hong Kong, owned by BC Group.
Features:
- High-security standards and strict compliance.
- Services: Spot trading, OTC, custody.
- Competitive fees for retail and institutional investors.
👉 Explore OSL’s secure trading platform
2. HashKey
- Focus: Institutional-grade crypto services.
Strengths:
- Robust tech infrastructure and risk management.
- Supports diverse virtual assets.
- Strong user reviews.
3. HKVAX
- Mission: Bridge traditional and digital finance.
Innovation:
- Specializes in security token offerings (STOs) and asset-backed tokens (ABTs).
- Targets Web3 investment opportunities.
4. Accumulus
- Parent Company: Cloud Account (a major HR service provider in China).
Strategy:
- Expands into virtual assets via Hong Kong’s market.
- 2022 revenue: Over HKD 110 billion.
5. VDX
- Affiliation: Victory Securities (first Hong Kong broker with virtual asset licenses 1, 4, and 9).
Performance:
- Monthly turnover: ~USD 10 million.
- Profitable virtual asset division.
6. BGE
- Ownership: Subsidiary of HK-listed HKE Holdings.
- Leadership: Founder Lian Haomin holds traditional financial licenses (1, 4, 9).
7. HKbitEX
- Group: Part of Tai Chi Capital.
Milestone:
- Launched PRINCE token—Hong Kong’s first real estate STO for professional investors.
8. Meex
- Status: Applying for licenses (1, 7, VASP).
Security:
- Client assets held with TCSP-licensed Meex Custody.
👉 Discover Meex’s secure custody solutions
9. PantherTrade
- Backing: Wholly owned by Futu Securities.
Goal:
- Traditional brokerage’s push into virtual assets.
10. OKX
Global Signal:
- Emphasizes compliance and Hong Kong’s role as a virtual asset hub.
FAQs About Licensed Exchanges in Hong Kong
Q1: Why choose a licensed exchange?
A: Licensed exchanges adhere to strict regulatory standards, ensuring safer transactions and asset protection.
Q2: How does KYC work on these platforms?
A: Users must submit ID proof and personal details to verify identity before trading.
Q3: Are fees higher on licensed exchanges?
A: Not necessarily. While compliance costs exist, many licensed platforms offer competitive fees (e.g., OSL).
Q4: Can international investors use these exchanges?
A: Yes, but some may restrict services based on jurisdiction.
Q5: What’s the future of Hong Kong’s virtual asset market?
A: With progressive regulations, Hong Kong aims to be a global leader in compliant virtual asset trading.