Move comes as Hong Kong regulators prepare the welcome mat for compliant crypto firms.
BTSE, a leading digital asset exchange, today announced plans to apply for upcoming virtual asset licenses in Hong Kong, as the firm seeks to enter the increasingly crypto-friendly market. BTSE’s expansion plan follows the city’s proposed introduction of new regulations for crypto trading platforms, which are set to go into effect in June this year. The move comes as Hong Kong aims to establish itself as the region’s leading digital assets hub.
Following a year of significant growth in other markets, BTSE is seeking to take its leading product offerings to the financial hub. Currently, BTSE has a team based in Hong Kong, and intends to expand hiring for roles in legal, compliance and sales after gaining the necessary licenses from Hong Kong’s Securities and Futures Commission (SFC).
Hong Kong offers a highly developed and sophisticated financial system, as well as a business-friendly regulatory environment. The city’s strategic location as a gateway to Asia makes it an ideal destination for companies looking to expand their operations in the region.
By obtaining a license to operate in Hong Kong, BTSE aims to tap into the region’s vast potential and offer its advanced trading and custody services to a broader range of customers. BTSE plans to expand its market reach and grow its business, while also providing customers with a trusted and regulated platform to buy, sell, and store digital assets.
“As Hong Kong’s regulators are becoming increasingly receptive to the crypto industry, we are excited to pursue a license to operate in this financial powerhouse. Known and respected for its deep pool of talent and strong track record of innovation and entrepreneurship, Hong Kong has long been a fantastic place to do global business. We are excited to become a part of this dynamic market and to contribute to the city’s continued growth and success,” said Henry Liu, CEO of BTSE.
“Hong Kong represents a valuable opportunity to expand our presence in the region and provide our innovative crypto exchange services to a broader range of customers. By establishing a presence in Hong Kong, we can also strengthen our position as a leading player in the global crypto exchange market, while continuing to innovate and drive the industry forward,” said Jeff Mei, COO of BTSE.
BTSE is a leading digital asset exchange that offers a simple and secure way to trade cryptocurrencies. As the go-to exchange for all things crypto, BTSE is one of the top trusted crypto platforms for institutions, retail users and first-time traders. BTSE has developed multiple trading technologies that have been adopted across the industry, setting new standards for excellence and innovation in the world of digital asset trading. Additionally, BTSE licenses its industry-leading technology to exchanges worldwide through its white label exchange solutions, strengthening the BTSE ecosystem and bridging traditional finance with digital assets everywhere. Read more at btse.com.
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