Hong Kong has granted licenses to four more crypto exchanges as the region focuses on accelerating the licensing process amid growing competition to become a crypto hub.
The Securities and Futures Commission said it approved licenses for four additional exchanges — HKbitEX, Accumulus, DFX Labs, and EX.IO — on Wednesday under its “swift licensing process” after the applicants addressed feedback from the regulator’s on-site inspections. The SFC has previously issued three such licenses to OSL, HashKey and HKVAX.
Hong Kong has opened its doors to crypto firms. In June 2023, it officially launched a crypto licensing regime for “virtual asset trading platforms” (VATPs), allowing licensed exchanges to offer retail trading services.