As an important member of the global financial market, the Hong Kong Stock Exchange recently made a big move: Hashkey announced that it will open retail trading, and launched a preferential policy of zero handling fees, and will also launch trading mining activities. This news has undoubtedly set off heated discussions and attention in the market. Let us explore this eye-catching move in depth, analyze the pros and cons and the impact on the market.

First, let us unveil the mystery of Hashkey's opening of retail trading. As individual investors in the market, the right of retail investors to participate in transactions is generally considered to be a manifestation of the democratization of the financial market. Hashkey's move has opened a new era for the Hong Kong Stock Exchange to open its doors to a wider group of investors. Retail investors no longer need to go through cumbersome channels or intermediaries to directly participate in the transactions of the exchange, realizing the convenience and transparency of transactions. This move will undoubtedly attract more retail investors to join and inject more vitality into the market.

In this process, Hashkey has launched a zero handling fee policy, providing retail investors with a more attractive trading environment. Zero handling fees means that investors do not need to pay additional fees during the transaction process, which directly increases their investment returns. This preferential policy not only increases the enthusiasm of retail investors to participate, but also promotes the liquidity and activity of the market. It is believed that over time, this policy will bring more users and trading volume to Hashkey, helping it to be more competitive in the market.

In addition to the zero-fee policy, Hashkey will also launch trading mining activities to bring more trading benefits to investors. Trading mining activities are similar to mining, and investors will receive corresponding rewards or benefits during the trading process. This innovative incentive mechanism can not only attract more investors to participate in trading, but also increase their trading frequency and magnitude. In this way, Hashkey will effectively improve the stickiness and activity of users and establish a more solid position for it in the market.

However, it is worth noting that with the opening of retail trading and the implementation of the zero-fee policy, the market may also face some potential risks and challenges. First, the participation of retail investors will increase market volatility and uncertainty, which may lead to increased trading risks. Secondly, although the zero-fee policy has attracted more investors, it may also reduce the profitability of the exchange and have a certain impact on its financial situation. Finally, although the launch of trading mining activities can motivate investors to participate in trading, it may also cause problems such as over-trading and market manipulation. Therefore, Hashkey needs to carefully consider various possible risks in the process of policy formulation and implementation, and take effective measures to avoid them.

In summary, Hashkey's opening of retail trading, introduction of a zero-fee policy and trading mining activities have undoubtedly brought new vitality and opportunities to the Hong Kong Stock Exchange. This move will promote the development and innovation of the market, attract more investors to participate, and inject new vitality into the entire financial ecosystem. However, it is also necessary to pay attention to potential risks and challenges to maintain the stability and healthy development of the market. I hope that Hashkey can continue to improve its policies and services in the future development, create a better trading experience for investors, and bring more opportunities and vitality to the market. Let us look forward to Hashkey creating a more brilliant future in the development of the Hong Kong Stock Exchange!

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Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120Btc.com) News: Hong Kong Exchange HashKey announced that its license has been renewed by Hong Kong regulators and will be able to provide services to retail investors. HashKey also launched limited-time activities such as zero transaction fees and transaction mining (HashKey's ecological points HSK).

 HashKey: Hong Kong's first retail compliant exchange

According to the announcement, HashKey stated that the Hong Kong Securities and Futures Commission (SFC) has granted the exchange a license renewal, upgrading the first and seventh types of licenses, allowing HashKey to operate a virtual asset trading platform in accordance with Hong Kong Securities Law, and allowing HashKey's trading business scope to cover professional institutional investors and retail investors.

HashKey Group Chief Operating Officer Livio Weng said: Hong Kong's opening up of the crypto industry is a positive step for investors. With the launch of Hong Kong's licensed trading platforms and a clearer regulatory framework in the future, the overall transparency of the crypto industry will continue to improve, thereby increasing investor confidence.

HashKey launched OTC service on the same day

HashKey also announced the launch of HashKey Brokerage, claiming to be a Hong Kong-compliant bulk trading service platform (Over-the-Counter Bulk
Trading).

It will be able to provide investors and high-net-worth users with high-liquidity bulk transactions.

 HashKey Exchange Features

Regularly accept audits by the Big Four auditing companies

HashKey emphasized several points in the announcement:

 Regular audits: Regularly accept audits and compliance reviews by the Big Four auditing companies

 Support for fiat currency in and out: Cooperate with commercial banks including Hong Kong's note-issuing banks

 User asset separation: 98% of encrypted assets are stored in cold wallets, and 2% are stored in hot wallets

Note: According to the Hong Kong Monetary Authority, the current note-issuing banks in Hong Kong are HSBC, Standard Chartered Bank (Hong Kong), and Bank of China (Hong Kong), which the announcement did not specify.

Users from China, the United States, and Japan are prohibited

According to the registration instructions on the official website, in addition to prohibiting users from sanctioned countries from registering, China, Japan, and the United States are also excluded, but according to the description, if users of the three countries can provide proof of address and mobile phone numbers in other countries, they can still be verified.

Currently, only professional investors are allowed to verify, and online KYC is not yet supported.

HashKey has a limited-time transaction with zero handling fee

Withdrawal fees may temporarily be a source of profit for HashKey. Custody fees are free in the initial stage and may also be one of the sources of profit in the future.

HashKey officially launched a zero-fee activity for spot trading in mid-July, and the deadline will be notified separately.

Super high withdrawal fee

The deposit fee is free compared to general crypto exchanges.

However, in terms of withdrawal fees in USDT, the current withdrawal fee for the Ethereum mainnet is 3.67USDT, and HashKey charges 16.4USDT, which is about five times that of Binance.

HashKey trading pairs

For general crypto exchanges, there are relatively few HashKey trading pairs, among which SPiCE is a securitized token launched by venture capital firm SPiCE.

HashKey trading mining activity

According to the announcement, HashKey's ecological points HSK will be used to reward users for building momentum, but judging from the content of the announcement, the rewards may be more inclined towards large investors and professional market makers rather than retail investors.