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Retail cryptocurrency options in Hong Kong have expanded following the recent approval of Avalanche and Chainlink for listing on Hashkey, a fully licensed exchange in the region. Previously, retail investors in Hong Kong had access only to Bitcoin and Ether. This development provides new opportunities for retail participants in the cryptocurrency market.
{Avalanche} (AVAX) and Chainlink (LINK) are now available for trading against the US dollar on Hashkey. HashKey’s CEO, Livio Weng, explained that these tokens were selected for listing due to their legal clarity, in contrast to other cryptocurrencies that face legal disputes. Avalanche, with a market capitalization of $9.3 billion, ranks as the 13th largest cryptocurrency. Chainlink, valued at $6.9 billion, holds the 16th position in market capitalization.
Professional investors, including those with portfolios valued at over 8 million Hong Kong dollars or representatives of financial institutions, already had access to a broader range of cryptocurrencies. The inclusion of Avalanche and Chainlink expands retail investors' options, signaling a shift in the market landscape.
Hong Kong’s regulatory framework for cryptocurrency trading began to take shape in August 2023, when Hashkey and OSL received licenses to operate fully compliant exchanges. Other exchanges in the region function under a “deemed to be licensed” status. The Hong Kong Securities & Futures Commission (SFC) has mandated that exchanges lacking this status or a formal license cease operations by June 1.
Hashkey’s recent move to list additional cryptocurrencies is part of a broader trend in Hong Kong’s evolving crypto market, which is adjusting to new regulatory standards and expanding access for retail traders. The exchange’s ongoing efforts may lead to the approval of more cryptocurrency listings in the near future.
