HashKey Exchange lists AVAX/USD and LINK/USD for retail investors starting August 28.
Previously, retail investors in Hong Kong were only limited to Bitcoin and Ethereum.
AVAX and LINK deposits and withdrawals are possible via Avalanche and ERC20 networks respectively.
HashKey Exchange, one of Hong Kong’s two fully licensed cryptocurrency exchanges, has expanded its offerings to include Avalanche (AVAX) and Chainlink (LINK) for retail investors. This provides Hong Kong-based investors with more diverse trading options beyond the previously available Bitcoin and Ether.
According to an announcement made by the exchange on Wednesday, the new trading pairs, AVAX/USD and LINK/USD, officially launched on August 28, 2024, at 18:00 (UTC+8).
📣 Avalanche @avax $AVAX and Chainlink @chainlink $LINK are set to list on HashKey Exchange for 🌟Retail Users🌟! 🕑Schedule: ✅Deposits & Withdrawals: Open ✅Trading: Opens at 18:00 on Aug 28, 2024(UTC+8) ✅Trading Pair: AVAX/USD, LINK/USD ✅Supported User Type:… pic.twitter.com/uxDzFiyHUl
— HashKey Exchange (@HashKeyExchange) August 28, 2024
Hong Kong retail investors can trade AVAX and LINK on HashKey Exchange
HashKey’s move marks a notable shift in the Hong Kong cryptocurrency landscape, where only professional investors had access to a broader range of cryptocurrencies.
Retail investors were previously limited to just Bitcoin (BTC) and Ethereum (ETH).
The inclusion of AVAX and LINK is expected to enhance the trading experience for retail users, offering them access to two more prominent digital assets.
Avalanche, with the ticker AVAX, is the native coin of the Avalanche network and is currently ranked as the 13th largest cryptocurrency by market cap, valued at approximately $9.3 billion. Chainlink (LINK), on the other hand, is the coin of the Chainlink oracle network, holding the 16th spot with a market cap of around $6.9 billion.
Both coins were selected for listing due to their legal clarity, avoiding the regulatory complications faced by many larger cryptocurrencies.
HashKey Exchange will allow deposits and withdrawals of AVAX through the Avalanche network and LINK via the ERC20 network.
However, it’s important to note that HashKey does not exercise voting rights associated with virtual assets on behalf of its users. Those wishing to participate in governance votes must withdraw their assets from the platform.
This listing expansion reflects Hong Kong’s evolving crypto market, accelerated by recent regulatory updates and growing interest in Web3 technologies.
With the Hong Kong Securities & Futures Commission (SFC) having streamlined its licensing processes, HashKey’s move is a promising step towards a more inclusive and dynamic trading environment.
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