HashKey Exchange Expands Crypto Offerings for Retail Investors

In a significant move for Hong Kong's crypto market, HashKey Exchange has broadened its offerings to include Avalanche (AVAX) and Chainlink (LINK) for retail investors, marking a new chapter in the region's digital asset landscape.

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Photography by Angelo_Giordano on Pixabay
Published: Friday, 01 November 2024 17:02 (EDT)
By Laura Mendes

HashKey Exchange, one of the two fully licensed cryptocurrency exchanges in Hong Kong, has officially listed AVAX/USD and LINK/USD trading pairs for retail investors as of August 28, 2024. This expansion allows retail investors in Hong Kong to diversify their portfolios beyond the previously available Bitcoin (BTC) and Ethereum (ETH).

New Trading Opportunities for Retail Investors

Previously, retail investors in Hong Kong were limited to trading only Bitcoin and Ethereum. The addition of AVAX and LINK offers them access to two more significant digital assets, enhancing their trading experience and providing more options for portfolio diversification.

Avalanche (AVAX) is the native currency of the Avalanche network, currently ranked as the 13th largest cryptocurrency by market capitalization, valued at approximately $9.3 billion. Chainlink (LINK), on the other hand, is the currency of the Chainlink oracle network, holding the 16th position with a market cap of about $6.9 billion.

These cryptocurrencies were chosen for listing due to their clear legal status, which helps avoid the regulatory challenges that many other major cryptocurrencies face.

HashKey Exchange supports AVAX deposits and withdrawals via the Avalanche network, while LINK transactions are facilitated through the ERC20 network. However, it is important to note that HashKey does not exercise voting rights associated with virtual assets on behalf of its users. Investors who wish to participate in governance votes must withdraw their assets from the platform.

This expansion reflects the evolving cryptocurrency market in Hong Kong, driven by recent regulatory updates and growing interest in Web3 technologies. With the Hong Kong Securities & Futures Commission (SFC) streamlining its licensing processes, HashKey's decision is a promising step towards a more inclusive and dynamic trading environment.

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