HashKey Exchange Lists AVAX and LINK Trading Pairs for Retail Investors

Hong Kong-based HashKey Exchange has listed AVAX (+4.53%) and LINK (+2.59%) trading pairs for retail investors.

Trading on the AVAX/USD and LINK/USD pairs went live at 6 a.m. ET on Wednesday. Deposits and withdrawals for AVAX are available via the Avalanche C-Chain network, while LINK transactions utilize the Ethereum network.

Prior to this, AVAX and LINK trading pairs were accessible to the exchange’s professional investors with over $1 million in their portfolios, among several other cryptocurrencies. HashKey Global, the HashKey Group’s global crypto exchange, launched in April after obtaining a Bermuda license and now supports trading pairs for more than 40 cryptocurrencies.

Notably, AVAX and LINK become the first crypto assets approved for retail trading by Hong Kong regulators on licensed exchanges, following bitcoin and ether. This comes over a year after the region’s Securities and Futures Commission initiated a new licensing regime for crypto exchanges in June 2023. HashKey Exchange secured its license just two months later and began offering its retail trading service on Aug. 28, 2023.

Both AVAX and LINK rank among the top 20 cryptocurrencies, boasting market capitalizations of $10 billion and $7 billion, respectively, according to The Block’s Prices Page.

Hong Kong’s Crypto Ambition

While neighboring China maintains a ban on crypto transactions, Hong Kong has welcomed crypto firms in recent years, even encouraging banks to collaborate with them.

HashKey requires users to link their bank cards to deposit fiat currency into the exchange and prohibits mainland Chinese users from registering.

In January, HashKey Group announced raising nearly $100 million in its Series A financing round, achieving a pre-money valuation exceeding $1.2 billion.

The firm operates spot Bitcoin and Ethereum exchange-traded funds in Hong Kong, launched in April in partnership with Bosera, managing $102.4 million and $14.4 million in assets, respectively.

Additionally, HashKey plans to release its own ERC-20 utility token, dubbed HSK, later this year.