Hong Kong SAR — OKX, a top-tier cryptocurrency exchange and Web3 innovator, has upgraded its mobile application to provide Hong Kong users with a compliant and secure platform for spot trading of virtual assets. This enhancement aligns with Hong Kong’s regulatory framework for Virtual Asset Service Providers (VASPs).
Key Features of the OKX App Upgrade
- Regulatory Compliance: Adheres to Hong Kong’s stringent VASP requirements, ensuring security and transparency.
- Asset Diversity: Supports trading for 16 major cryptocurrencies, including BTC, ETH, and stablecoins.
- Fiat On-Ramps: Enables deposits via HKD, Apple Pay, Visa, Mastercard, and peer-to-peer (P2P) transactions.
- Proof of Reserves (PoR): Utilizes zk-STARK technology for real-time, verifiable asset backing (USD 10.4 billion reserves as of April 2023).
👉 Explore OKX’s secure trading platform
OKX’s Commitment to Hong Kong’s Regulatory Standards
OKX established a local Hong Kong entity in early 2023 to pursue licensing under the new VASP regime, effective 1 June 2023. The company has proactively strengthened its:
- Security protocols (institutional-grade custody).
- Anti-money laundering (AML) controls.
- Compliance infrastructure.
Lennix Lai, OKX Global CCO, stated: “We’re dedicated to making crypto accessible through a trusted platform that meets Hong Kong’s regulatory expectations. Our collaboration with regulators underscores our commitment to revitalizing Hong Kong as a digital asset hub.”
Future Enhancements
OKX plans to roll out additional features in alignment with the Hong Kong Securities & Futures Commission’s guidelines, including:
- Expanded token offerings.
- Advanced trading tools.
- Enhanced user education resources.
FAQ Section
Q: Is OKX available to retail investors in Hong Kong?
A: Yes, the app is optimized for both retail and institutional users, with robust risk controls.
Q: How does Proof of Reserves ensure security?
A: Monthly audits with zk-STARKs let users verify OKX’s solvency and 1:1 asset backing independently.
Q: What payment methods are supported?
A: HKD transfers, P2P, Apple Pay, and major credit/debit cards via third-party providers.
Q: Will OKX add more cryptocurrencies?
A: Token expansions will follow regulatory approvals and market demand.
👉 Start trading securely on OKX today
Since 2017, OKX has facilitated over USD 1 trillion in trading volume with zero security breaches. The platform combines cutting-edge technology with a user-first approach to democratize access to virtual assets.
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