HashKey Group, a Hong Kong-based digital asset financial services provider in Asia, has announced that it has obtained approval from the Securities and Futures Commission of Hong Kong (SFC) to carry on an off-platform virtual asset trading business out of (OTC) for Hash Blockchain Limited (HBL).

HashKey said in a statement that this approval allows the firm to offer off-platform virtual asset trading.

According to the statement, HBL can act as the intermediary to facilitate trades between two parties, even if they wish to trade tokens that are not listed on the exchange’s order book.

The approval highlights HashKey’s commitment to providing a safe and secure trading environment for its clients, as the SFC ensures that companies operating with its jurisdiction adhere to high standards of transparency, security, and integrity.

“We are thrilled to receive the approval from the SFC,” said Michel Lee, Executive President of HashKey Group.

“Our experience with the OTC business has been valuable, and this approval now provides clients with an option to face an entity that is licensed in Hong Kong,

“As we continue to prepare for the launch of HashKey PRO – our regulatory compliant virtual assets exchange, we are excited to be able to offer more products in the pipeline,” she added.

Meanwhile, HBL Chief Executive Officer Colin Zhong said a regulated exchange can make a difference in the OTC market in Hong Kong to provide a more secure and transparent environment for investors to trade digital assets, compared to the often opaque and unregulated nature of the OTC business.

“HashKey PRO is committed to fostering greater trust and confidence among investors. This, in turn, can help attract a broader base of participants to the market and facilitate the mainstream adoption of digital assets,” he added.

With the SFC’s approval, HashKey will continue to lead the way in providing best-in-class regulatory compliant digital asset products to its clients.

HashKey Group is the world’s first digital asset group with virtual asset licences, including OTC licences, from the Hong Kong SFC, the Financial Services Agency of Japan, and has been granted an exemption from holding a licence under the Payment Services Act (PS Act) to provide digital payment token (DPT) services for a specified period, from the Monetary Authority of Singapore.

The HashKey Group has previously received approval from the SFC to operate a virtual asset trading platform under a Type 1 (dealing in securities) licence and a Type 7 (providing automated trading services) licence for professional investors, through its subsidiary HBL.

The company is committed to continuous growth as it strives to become a globally recognised, fully compliant digital asset ecosystem.