The HashKey Group, situated in Hong Kong and focused on providing services for digital assets, has recently unveiled HashKey Global, a new worldwide cryptocurrency exchange platform accessible here. This launch follows the acquisition of an operational license in the jurisdiction of Bermuda.

With this strategic move, HashKey Group is positioning itself to become a dominant force in the crypto exchange landscape, setting its sights on outpacing the trading volume of the renowned Coinbase from the US within a five-year time frame.

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Summary

• After obtaining the requisite license in Bermuda, HashKey Group has initiated a worldwide cryptocurrency exchange named HashKey Global.
• The objective of HashKey Group is to rise as one of the top clusters of licensed exchanges globally and eclipse Coinbase in trading volume over five years.
• The new platform, HashKey Global, currently facilitates spot trading in 21 digital currencies, such as BTC, ETH, USDT, and USDC, with plans to introduce futures trading in the near future.
• Due to regulatory constraints, the exchange does not serve markets like the US, mainland China, and Hong Kong.
• HashKey differentiates itself by being a law-abiding platform offering an intuitive user interface, which stands out from others that are either user-friendly but not fully compliant or compliant yet challenging to navigate.

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Now operating under Bermuda’s Digital Asset Business license, HashKey Global is opening up to the international market, though it is unavailable in regions such as the US, mainland China, and Hong Kong due to local regulations.

Currently, the exchange provides spot trading options for 21 different digital assets, with big names like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) among them. Plans to roll out futures trading services are in progress for the forthcoming weeks.

According to Livio Weng, COO at HashKey Group, confidence is high regarding overtaking Coinbase, as he states,

“We have seen their data and we don’t think that’ll be difficult.” The competitive edge for HashKey’s global exchange lies in being a conforming platform that still maintains an effortless user interface. Weng points out that the leading global exchanges generally fall into one of two categories: either they are “easy to use but not compliant” or “compliant but hard to use.”

HashKey Global’s debut follows the company’s achievements in Hong Kong with the local HashKey Exchange, which received approval last August to service retail investors under the city’s redesigned crypto regulatory framework. With over 170,000 registered users on HashKey Exchange, it reported approximately US$35 million in daily trading volume on a recent Monday, as tracked by CoinGecko.

HashKey’s choice to base its global exchange in Bermuda is a deliberate strategy mirroring that of Coinbase, which also holds a license for its international operations in the country.

Commenting on the decision, managing director of HashKey Global, Ben El-Baz, revealed that after observing Coinbase’s Bermudian success, they

“looked at all the different options, and we found that to be a very, very suitable and good regulatory regime for us to expand from.”

As it joins the fray of global cryptocurrency exchanges, HashKey Global is leveraging its adherence to regulatory standards alongside its user-friendly platform to attract users and claim a market share.

While planning to introduce services for spot and futures trading, staking, a launchpad for new projects, and starting off with strong liquidity, HashKey is well-placed to be a formidable competitor in the swiftly growing sphere of digital asset trading.