ChainCatcher news, financial services platform Matrixport announced the integration of Fly Wing Technologies Pte Ltd ("Fly Wing")'s OTC services into its APP, providing a one-stop cryptocurrency trading experience. All accounts certified by Matrixport must complete Fly Wing's eKYC process to access its OTC services.Unlike traditional C2C services, Fly Wing's OTC services facilitate fund transfers through bank transfers with partner banks, ensuring asset security and transaction transparency. This service combines compliance and convenience, aiming to lower the barriers for traditional financial investors to enter the cryptocurrency market. Currently, the OTC functionality only supports trading in USD, USDT, and USDC.

ChainCatcher news, according to Ming Pao, the co-founder and Chief Operating Officer of Hong Kong Virtual Asset Exchange (HKVAX), Ho Siu-Leung, stated that it will take at least another six months to obtain the Type 1 and Type 7 licenses from the Hong Kong Securities and Futures Commission. The plan is to launch the platform and OTC services at that time, but whether to launch STOs (Security Token Offerings) will depend on the regulations set by the Hong Kong Securities and Futures Commission.After obtaining the licenses, HKVAX will discuss with foreign licensed platforms to arrange for STOs to be listed in various major markets around the world for interested investors to subscribe. Meanwhile, HKVAX's CEO, Ng Wai-Leung, mentioned that the Hong Kong government supports the development of a global virtual asset hub, helping the industry solve problems, and has seen industry players migrating back to Hong Kong after moving to Singapore and Dubai.