Starting on May 10, HashKey exchange will no longer accept deposits from cryptocurrency wallets connected to Binance or approved on their platform. Withdrawals from such wallets will be halted beginning May 17. HashKey made this announcement on April 19.
A Change in Policy
The Hong Kong corporation explained that they had to halt transactions for Binance’s identified wallets due to an unexplained “shift in policy.” No specifics regarding this policy modification were disclosed.
Starting on May 10, 2024, at 00:00 UTC+8, HashKey Exchange will no longer accept deposits of Value Assets (VA) from Binance-managed wallets. And beginning May 17, 2024, also at 00:00 UTC+8, HashKey Exchange will stop processing VA withdrawals to Binance-managed wallets.
Although HashKey hasn’t provided much information about the policy modification, they guarantee that it solely impacts transactions linked to Binance wallets. The change does not influence users with different types of wallets or addresses in their ability to add or withdraw funds from the platform.
Expansion and Strategic Alliances
After receiving the green light from Hong Kong’s financial regulators, HashKey has been advancing significantly in the industry and now provides services to individual investors in the region.
This week, the company unveiled HashKey Global, its new international digital assets trading platform, based in Bermuda following the acquisition of a local operating license.
Currently, our company limits transactions to buying and selling the following cryptocurrencies: Bitcoin (BTC), Ethereum (Ether), and stable coins like USDT and USDC for direct trades.
Moving forward, HashKey intends to expand the platform’s capabilities to include support for futures contracts and various trading options. Furthermore, staking functionality is set to be incorporated into the exchange.
On Tuesday, Livio Weng, the COO of the company, announced that they plan to launch the biggest networks of licensed exchanges globally within the next five years, surpassing the size and regulation of existing exchanges currently in operation.
Educational Initiative for Asian Crypto Users
In January 2024, HashKey teamed up with Animoca Brands with the aim of broadening the Web3 ecosystem in Asia. Through an agreement in the form of a memorandum of understanding (MoU), the two companies plan to provide collaborative opportunities for digital asset ownership in the region.
Companies are offering an educational program in Asia to help crypto fans gain a solid understanding of the industry. They will supply study materials and additional tools for this mission of informing the general population about cryptocurrencies.
HashKey and Animoca Brands are teaming up to foster strategic growth in the Asian cryptocurrency market. This collaboration enables Animoca Brands to make available specific digital asset offerings for trading on HashKey’s platform.
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2024-04-19 19:37