OKX sees surge in users in first month following Hong Kong license

One of the world’s starring crypto exchanges, OKX, has made important strides successful Hong Kong, registering implicit 10,000 caller users wrong a period of launching its enhanced app. This maturation comes amid the caller Virtual Asset Service Providers (VASPs) authorities that took effect connected June 1, 2023.

According to a property release, the institution has reportedly invested heavy successful endowment acquisition amid a imaginable ‘talent crunch‘ successful mentation for its licence exertion nether the caller VASP regulations successful Hong Kong.

OKX Global Chief Commercial Officer, Lennix Lai, expressed the company’s delight successful the affirmative effect to OKX Hong Kong,

“Our sign-up metrics show beardown section involvement and immense marketplace imaginable successful a regulated environment.

The Hong Kong marketplace is precise blase and discerning erstwhile it comes to choosing integer plus platforms, and adherence to regulatory requirements plays a important relation successful winning spot from our users and driving aboriginal maturation of the crypto market.”

The Securities and Futures Commission (SFC) eased requirements for crypto exchanges earlier this twelvemonth owed to a endowment crunch, reducing the fig of required “responsible officers” (RO) from 4 to two.

The caller VASP authorities aims to usher successful a caller epoch of regularisation for virtual assets, with exchanges required to question licenses nether the Securities and Futures Ordinance (SFO) and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).

To further observe this milestone, OKX Hong Kong volition big an lawsuit successful collaboration with the Manchester City Official Supporters Club – Hong Kong Branch connected Saturday, July 22. The lawsuit volition show Manchester City-themed collectibles, talks from section shot legends, and interactive games.

OKX’s occurrence demonstrates the crypto industry’s adaptability and resilience successful the look of global regulatory changes.

The station OKX sees surge successful users successful archetypal period pursuing Hong Kong license appeared archetypal connected CryptoSlate.