HashKey Group COO: It is expected that the first virtual bank in Hong Kong will be approved for virtual asset trading services in the next quarter

ChainCatcher news, HashKey Group's Chief Operating Officer Livio Weng stated in an interview with the 21st Century Business Herald that the virtual asset trading services of various virtual banks have not yet launched and are still awaiting approval from the Hong Kong Monetary Authority. It is expected that the first virtual bank will be approved within the next quarter.

In addition to virtual asset ETF trading, these banks also plan to expand their cryptocurrency product lines, including collaborating with virtual asset exchanges to provide users with direct purchasing and trading services for crypto assets. Livio Weng also pointed out that the development of Hong Kong virtual banks in the field of virtual asset trading faces some challenges. The regulatory framework for virtual assets by the Hong Kong Monetary Authority is still being refined, so each virtual bank needs to closely monitor regulatory developments to ensure the compliance of their operations and transactions.