- HashKey Exchange will list AVAX/USD and LINK/USD for retail investors starting August 28th.
- Previously, retail investors in Hong Kong were limited to Bitcoin and Ethereum.
- Deposits and withdrawals of AVAX and LINK are possible via Avalanche and ERC20 networks respectively.
HashKey Exchange, one of two fully licensed cryptocurrency exchanges in Hong Kong, has expanded its offerings to include Avalanche (AVAX) and Chainlink (LINK) for retail investors, giving Hong Kong-based investors a wider range of trading options beyond the previously available Bitcoin and Ether.
According to an announcement from the exchange on Wednesday, the new trading pairs AVAX/USD and LINK/USD will be officially launched on August 28, 2024 at 18:00 (UTC+8).
📣 Avalanche @Abas $Abox And chainlink @chainlink $Link 🌟Will be listed on HashKey Exchange for retail users🌟!
🕑 Schedule:
✅Deposits and Withdrawals: Open
✅ Trading: Opens on August 28, 2024 at 18:00 (UTC+8)
✅Trading pairs: AVAX/USD, LINK/USD
✅Supported User Types:… pic.twitter.com/uxDzFiyHUl— HashKey Exchange (@HashKeyExchange) August 28, 2024
Hong Kong retail investors can trade AVAX and LINK on HashKey Exchange.
HashKey’s move marks a notable shift in the Hong Kong cryptocurrency market, where only professional investors have access to a wide range of cryptocurrencies.
Previously, individual investors could only invest in Bitcoin (BTC) and Ethereum (ETH).
The inclusion of AVAX and LINK is expected to enhance the trading experience for retail users, giving them access to two major digital assets.
Avalanche, with the ticker AVAX, is the native coin of the Avalanche network and is currently ranked as the 13th largest cryptocurrency by market cap, with a market cap of around $9.3 billion. Chainlink (LINK), on the other hand, is the coin of the Chainlink oracle network and ranks 16th with a market cap of around $6.9 billion.
Both coins were selected for listing due to their legal clarity, avoiding the regulatory complications that many large cryptocurrencies face.
HashKey Exchange allows deposits and withdrawals of AVAX via the Avalanche network, and LINK via the ERC20 network.
However, it is important to note that HashKey does not exercise voting rights related to virtual assets on behalf of users. Anyone wishing to participate in governance voting must withdraw their assets from the platform.
This expanded listing demonstrates the evolving cryptocurrency market in Hong Kong, which has been further accelerated by recent regulatory updates and increased interest in Web3 technology.
As the Hong Kong Securities and Futures Commission (SFC) streamlines its licensing process, HashKey’s move is a promising step towards a more inclusive and dynamic trading environment.