Building Regulated Digital Asset Marketplaces is Essential to Serving an Increasing Roster of Institutional Investors
HONG KONG, Oct. 13, 2020 /PRNewswire/ — HashKey Pro, HashKey Group’s digital asset trading platform, announced the signing of a Memorandum of Understanding (MOU) with Archax, a leading global digital security exchange and custody service. The two firms will partner to better serve institutional clients and drive the development of the global digital asset ecosystem.
According to the MOU, HashKey Pro and Archax will pursue the joint development of common standards to further promote the development of the global institutional digital asset securities market. The two companies will work on standards and processes to support growth in liquidity and quality in asset listings across regions, sharing insights on local regulator developments in digital securities as they develop.
Ben El-Baz, Chief Ecosystem Officer of HashKey Group, comments, “Linking up Asian and global digital asset markets is a key foundation of HashKey’s businesses. As we start to see more and more regulated markets for digital securities in different jurisdictions begin to launch, it is pivotal that we build an inclusive network that works together on common standards that will help grow institutional liquidity for issuers. We are excited to expand this partnership with Archax, a trailblazer in the regulated digital securities exchange market.”
With an increasing number of institutional investors showing an interest in the digital assets and securities markets, it is more important than ever to provide both secure and wide-ranging product offerings. As the first ever FCA-regulated digital securities exchange and custodian in the UK, Archax provides an excellent offering to institutional investors. Through the cross-border partnership between Archax and HashKey, investors in each market can enjoy an expanded overseas product offering from exchanges with a focus on regulatory compliance.
Graham Rodford, CEO of Archax, comments, “We are really only at the very start of the digital asset revolution in financial markets, but the opportunity is immense. To succeed in this nascent but rapidly evolving space, partnerships are key. As the first FCA-regulated digital securities exchange based in London, establishing relationships with leading players in other regions is part of our strategy for growth. HashKey’s presence in Asia make them an ideal partner for us, and we look forward to working with them to extend our reach and establish global standards as momentum builds in the digital assets space.”
Prior to the signing of the MOU, HashKey Pro has also clearly demonstrated a significant commitment to regulated markets within the overall institutional digital asset securities ecosystem. In 2019, HashKey Pro partnered with Blockstack PBC to list the Stacks (STX) token on its exchange, a positive move in the pursuit of regulatory compliance in the digital assets market. In March of 2020, HashKey Pro joined the Travel Rule Information Sharing Architecture (TRISA) Consortium as Founding Member, an important milestone in its mission to building compliant, institutional-grade digital asset market infrastructure. Finally, in August, HashKey Pro joined other key players in the global digital token business in creating the Veriscope Governance Task Force and the onboarding framework for Veriscope, a decentralized compliance framework and smart-contract platform for Virtual Asset Service Providers (VASPs).
About HashKey Group
HashKey Group is a leader in digital asset management and blockchain solutions. The Group provides a complete ecosystem across the entire digital asset landscape, ranging from capital, to custody, to technologies, trading, and exchange. HashKey’s senior team has deep investment, governance, and technology expertise gained at tier-one banks, regulators, and fintech ventures. HashKey identifies high potential opportunities and deliver end-to-end solutions that operate within regulatory frameworks with high compliance standards. The Group has operations in Hong Kong, Singapore and Japan, and extensive partnerships with fintech and blockchain solutions providers, academic institutions, and associations. Official Website: https://www.hashkey.com/
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