Hong Kong’s crypto exchange HashKey announces support for Solana

As an analyst with extensive experience in the crypto market and a background in international business expansion, I see HashKey Global’s addition of Solana (SOL) to their list of supported assets as a strategic move to attract a wider customer base and increase liquidity. The exchange’s expansion into new markets is a response to the saturation of the local market and regulatory challenges in Hong Kong.

HashKey International, the global branch of Hong Kong’s cryptocurrency exchange, now supports Solana (SOL) among its list of assets.

As a crypto market analyst, I would express it this way: HashKey Global, a renowned international cryptocurrency exchange operated by HashKey Group, has announced the addition of Solana (SOL) to its roster of supported assets. This strategic move aims to broaden our customer base and appeal to crypto enthusiasts from different corners of the globe.

As a crypto investor, I’m excited about the upcoming addition of Solana (SOL) spot trading against the US Dollar (USDT) pair on HashKey starting May 24 at 10:00 UTC. This expansion to the exchange’s supported assets now includes Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and more. However, it’s important to note that this feature is not accessible for users residing in the United States or China. Despite the announcement, SOL has seen a nearly 8% drop in value, trading at $163 as per CoinGecko’s latest data at press time.

HashKey Group, based in Hong Kong, initiated the rollout of its international crypto exchange in April, aiming to broaden its range of services on a global level. During an interview with the press, COO Livio Weng explained the reasons behind this expansion. He stated that “the local market isn’t particularly large,” and further mentioned that “regulatory restrictions in the region limit access for numerous international users.”

Moving forward, Weng shared HashKey’s ambitious plans to expand its international business endeavors by seeking extra financing. Although the exact amount and identities of the investors have yet to be revealed, rumors indicate ongoing negotiations for a funding round that may surpass the $100 million raised during its previous Series A investment.

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2024-05-24 11:57