Cryptocurrency exchange OKX has announced that it will be expanding its crypto trading options for Hong Kong residents.
The exchange will now offer 16 major cryptocurrencies to its Hong Kong users, including Bitcoin, Ethereum, Cardano, Polygon, Solana, Polkadot, Uniswap, Chainlink, The Sandbox, Litecoin, Avalanche, Axie Infinity, Cosmos, Stellar Lumens, Tether and USD Coin.
Users in Hong Kong will be able to purchase, sell or convert these digital assets via the OKX platform. They can do so using the Hong Kong dollar (HKD), through peer-to-peer (P2P) trading, or by using popular payment options such as ApplePay, Visa, or Mastercard via third-party providers.
This new selection of tokens adheres to Hong Kong’s regulatory requirements. The city’s Securities and Futures Commission (SFC) stipulates that cryptocurrencies offered to retail investors must be included in one of the two major indexes launched by traditional financial institutions and have been in circulation for at least 12 months.
OKX’s expansion into Hong Kong is a significant move for the exchange. The city is a major financial hub in Asia, and its regulatory framework is seen as being relatively friendly to cryptocurrency businesses. The move is also a sign of the growing popularity of cryptocurrency trading in Hong Kong.
Interestingly, Bitcoin Cash (BCH), one of the tokens included in the conventional entrance index, did not make the cut on OKX’s Hong Kong listings.
The inclusion of Axie Infinity (AXS) and The Sandbox (SAND), however, surprised many industry observers. This unexpected move could likely be attributed to the government support that Animoca, a key player in the non-fungible token (NFT) and gaming space, receives in Hong Kong.
