Key Takeaways :
- HashKey Exchange has received approval to list Avalanche (AVAX) and Chainlink (LINK)
- Move marks the first time retail investors in Hong Kong can trade AVAX & LINK on a regulated platform
In a significant move for Hong Kong’s evolving cryptocurrency landscape, HashKey Exchange, one of the region’s fully regulated platforms, has received approval to list Avalanche (AVAX) and Chainlink (LINK) for retail investors.
This development is poised to reshape the local crypto market, where trading options were previously limited to Bitcoin and Ethereum.
The approval to list AVAX and LINK marks a critical milestone in Hong Kong’s cryptocurrency sector. With this move, retail investors now have access to more diverse investment opportunities beyond the traditional giants of Bitcoin and Ethereum.
Avalanche (AVAX), the native coin of the Avalanche network, and Chainlink (LINK), the token of the Chainlink oracle network, are both high-ranking cryptocurrencies with market capitalizations of $9.3 billion and $6.9 billion, respectively.
HashKey CEO Livio Weng emphasized that these tokens were chosen specifically because they are free from legal disputes that often entangle other cryptocurrencies with larger market caps.
This strategic decision underscores Hong Kong’s growing importance in the global Web3 ecosystem and reflects the city’s commitment to fostering a regulated and robust digital asset market.
The listing of AVAX and LINK has already sparked significant trading activity on HashKey Exchange. Avalanche’s AVAX/USDT pair recorded over 21,000 trades, while Chainlink’s LINK/USDT pair saw nearly 18,000 trades, demonstrating strong liquidity and heightened investor interest.
This surge in trading activity indicates that retail investors are eager to diversify their portfolios with these newly available assets.
Source: Hyblock
The successful integration of AVAX and LINK is expected to boost liquidity further, potentially attracting more traders and investors to the platform.
This development comes more than a year after the Hong Kong Securities and Futures Commission (SFC) introduced a new licensing regime for cryptocurrency exchanges. Until now, only Bitcoin and Ethereum were available for retail trading on licensed platforms.
