HashKey Exchange will list AVAX/USD and LINK/USD for retail investors starting August 28. Previously, retail investors in Hong Kong were restricted to only Bitcoin and Ethereum. Deposits and withdrawals of AVAX and LINK will be possible via the Avalanche and ERC20 networks, respectively.
HashKey Exchange, one of two fully licensed cryptocurrency exchanges in Hong Kong, has expanded its services to include Avalanche (AVAX) and Chainlink (LINK) for retail investors, giving Hong Kong investors more diversified trading options in addition to the previously available Bitcoin and Ethereum.
According to an announcement by 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 @avax $AVAX and Chainlink @chainlink $LINK will be listed on HashKey Exchange for 🌟individual users🌟.
🕑Schedule:
✅ Deposits and Withdrawals: Open
✅ Trading starts: August 28, 2024 18:00 (UTC+8)
✅ Trading pairs: AVAX/USD, LINK/USD
✅ Supported user types:… pic.twitter.com/uxDzFiyHUl— HashKeyExchange (@HashKeyExchange) August 28, 2024
Hong Kong retail investors can trade AVAX and LINK on HashKey Exchange
HashKey's move marks a notable shift in Hong Kong's cryptocurrency scene, where only professional investors have had access to a wider range of cryptocurrencies.
Previously, retail investors were limited to only Bitcoin (BTC) and Ethereum (ETH).
The introduction of AVAX and LINK is expected to enhance the trading experience for retail users and provide them with access to two additional leading digital assets.
Avalanche (ticker: AVAX), the native coin of the Avalanche network, is currently ranked as the 13th largest cryptocurrency by market cap, valued at approximately $9.3 billion, while Chainlink (LINK), the coin of the Chainlink Oracle network, ranks 16th with a market cap of approximately $6.9 billion.
Both coins were selected for listing because of their legal clarity, avoiding the regulatory complexities faced by many larger cryptocurrencies.
HashKey Exchange will allow for the deposit and withdrawal of AVAX via the Avalanche network, and LINK via the ERC20 network.
However, it is important to note that HashKey does not exercise any voting rights related to crypto assets on behalf of users: anyone wishing to participate in governance votes must withdraw their assets from the platform.
The expanded listing reflects the evolution of Hong Kong's cryptocurrency market, fuelled by recent regulatory updates and growing interest in Web3 technologies.
With the Securities and Futures Commission of Hong Kong (SFC) streamlining its license issuance process, HashKey's move marks a promising step towards a more inclusive and dynamic trading environment.
