Hong Kong approves SOL trading for retail investors via OSL, expanding licensed crypto access alongside BTC, ETH, AVAX, and LINK.
Hong Kong has taken another major step in supporting retail cryptocurrency trading. OSL Exchange, the city’s first licensed crypto platform, has received approval from the Securities and Futures Commission (SFC) to allow retail investors to trade Solana (SOL). That means that SOL has become the fifth cryptocurrency to be accepted to trade publicly in Hong Kong, after Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), and Chainlink (LINK).
HashKey and OSL Launch Retail Services for Bitcoin, Ethereum
The trading on licensed platforms was the privilege of professional investors in the past. But the SFC announced two months ago it would permit retail trading subject to new regulations. Currently, OSL and HashKey Exchange have obtained licenses to work with the general population. Such approvals demonstrate the willingness of Hong Kong to be a global crypto hub, despite other markets continuing to remain wary following such incidents as the demise of FTX at the end of 2022.
Notably, these new licenses will enable platforms to offer their services to non-institutional clients as well. As an illustration, one of the customers of the HashKey Group, HashKey Exchange, is now accessible to regular investors. HashKey Group said, “We are excited to be the first licensed trading platform in Hong Kong focused on retail users,” Livio Weng, Chief Operating Officer of the HashKey Group. He added that the trading will begin to trade Bitcoin and Ethereum in a matter of weeks.
In the meantime, OSL declared that it is already prepared to offer its services to retail customers. In a statement, the company said it is effective immediately that OSL allows retail investors to register on its platform and sell and purchase digital asset products. Similar to HashKey, it will start with Bitcoin and Ethereum.
In order to maintain trust and transparency, HashKey has employed the best auditing firms, KPMG and EY. The funds of investors are also segregated. This action can improve safety and develop trust, particularly the novice users.
Related Reading: Hong Kong Launches Stablecoin Licensing Regime Starting August 2025 | Live Bitcoin News
Hong Kong Strengthens Crypto Access Through Key Bank Partnerships
In addition, partnerships are helping to expand access. HashKey is an authorized participant that can work with the Standard Chartered Bank in order to attract customers and provide them with the possibility to exchange and withdraw fiat to crypto. Crypto platforms are also being offered banking services by ZA Bank, a local online lender.
Not all banks are yet distributing the services, though. The city’s banking regulator is meeting with financial institutions and crypto firms to discuss key concerns, including anti-money laundering. According to Eric Zhu, the Chief Financial Officer of HashKey Group, it is understandable that banks are being cautious. This caution comes after several major failures in the crypto sector last year. As a result, banks are taking time to rebuild trust and ensure stronger protections before moving forward. Nevertheless, HashKey has been collaborating with Standard Chartered since last August to develop trust.
Opportunities are also under consideration by other banks. DBS Bank Hong Kong is looking at the possibility of providing digital asset services to clients. The CEO, Sebastian Paredes, said that the bank is in close coordination with the SFC though it will not seek a local exchange license. Rather, DBS potentially can offer its crypto exchange facilities in Singapore to serve customers in Hong Kong.
Lastly, the exchanges that are already running businesses prior to the release of the new rules on June 1 have until the end of March to apply licenses in case they want to keep on with the business in Hong Kong.
Hong Kong is progressing in allowing regulated and safe cryptocurrency trading to the general population with these new approvals and collaborations.
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