Global cryptocurrency exchange OKX, the world's second-largest trading platform by volume and a leading Web3 technology company, has launched an upgraded application to provide Hong Kong users with secure virtual asset spot trading services in compliance with Hong Kong's Virtual Asset Service Provider (VASP) regulations.
Key Features of OKX's Upgraded Platform
- Supports trading and custody of 16 major cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH)
- Implements financial-grade security standards matching Hong Kong's traditional exchanges
- Complies with Hong Kong's new VASP licensing framework effective June 2023
- Features Proof-of-Reserves with zk-STARK technology for transparent asset verification
Regulatory Compliance and Security Measures
OKX has been actively preparing for Hong Kong's regulatory requirements by:
- Establishing a local Hong Kong entity for VASP license application
- Enhancing operational and monitoring systems
- Collaborating with Hong Kong regulators to demonstrate compliance capabilities
The platform's April 2023 Proof-of-Reserves snapshot revealed:
| Asset | Reserve Value |
|---|---|
| BTC | $X.X billion |
| ETH | $X.X billion |
| USDT | $X.X billion |
👉 Explore OKX's secure trading platform
Enhanced Trading Capabilities
Hong Kong users can now:
- Trade 16 major virtual assets
- Use HKD, P2P transactions, or third-party payment methods (Apple Pay, Visa, Mastercard)
- Benefit from institutional-grade security protocols developed since 2017
Lennix Lai, OKX's Global Chief Commercial Officer, stated: "We believe every Hong Kong user deserves reliable access to explore cryptocurrency through secure and user-friendly applications while complying with local regulations."
Future Developments
OKX plans to:
- Introduce additional features under SFC guidelines
- Support Hong Kong's development as a virtual asset hub
- Continue license application progress under new VASP regime
👉 Learn about OKX's regulatory compliance
FAQ Section
What cryptocurrencies can Hong Kong users trade on OKX?
Users can trade 16 major cryptocurrencies including Bitcoin and Ethereum.
How does OKX ensure fund security?
Through monthly Proof-of-Reserve audits using zk-STARK technology for independent verification.
What payment methods are available?
Users can deposit via HKD, P2P transactions, or credit/debit cards through third-party providers.
When did OKX start preparing for Hong Kong compliance?
The company began regulatory preparations over a year ago, establishing a local entity in early 2023.
What makes OKX different from other exchanges?
With $1T+ in historical trading volume, OKX combines institutional-grade security with retail accessibility while prioritizing regulatory compliance.
Will OKX add more features?
Yes, the platform plans to introduce additional services in coming months following SFC guidelines.
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