Hong Kong Virtual Asset Exchange (HKVAX) has obtained a license from the Hong Kong Securities and Futures Commission (SFC) to operate a virtual asset trading platform.
The approval makes HKVAX the third licensed crypto exchange in the city and the first to be authorized under the virtual assets regulatory framework introduced two years ago.
HKVAX licenses
According to an October 4 statement shared with CryptoSlateHKVAX has obtained a Type 1 license for securities trading and a Type 7 license for the provision of automated trading services. The exchange also acquired an Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) license from the SFC.
HKVAX specializes in Security Token Offers (STO), Real-World Asset (RWA) tokenization, over-the-counter (OTC) trading and custody services. These capabilities position it as one of the most regulated virtual asset platforms in Hong Kong.
HKVAX CEO Anthony Ng stated that these licenses reflect the commitment of both the company and Hong Kong to become leaders in the virtual assets space.
Ng stated that he believes STO and RWA innovations will reshape traditional financial markets by boosting liquidity and creating new opportunities. This goal is in line with Hong Kong’s ambitions to strengthen its position as a global financial center.
Likewise, co-founder Sam Fok echoed this sentiment, noting that the licensing is just the beginning of the company’s expansion. He added that the approval elevates HKVAX from a simple exchange to a “comprehensive ecosystem.”
HKVAX is forming strategic partnerships with key industry players including brokers, Money Service Operators (MSOs), Exchange-Traded Funds (ETF) issuers, stablecoin providers and other virtual asset platforms to fuel growth. These collaborations aim to foster a dynamic virtual asset ecosystem, contributing to Hong Kong’s continued financial innovation.
Hong Kong’s regulatory regime
The approval of HKVAX is in line with Hong Kong’s continued efforts to strengthen its position as a leader in the virtual asset market, especially for retail investors.
Over the years the city has introduced itself strict regulations which have stimulated several global exchanges including Binance And HTX—Unpleasant withdraw from the region. Notably, only two local companies – HashKey Group and OSL – were allowed to serve residential customers before HKVAX approved it.
However, the regulator has tagged 11 platforms with ‘deemed licensed’ status, allowing them to continue operating while they seek full approval from the SFC.