BitMart Exchange Expands in Hong Kong with New Crypto Trading Platform
May 31, 2023 — BitMart, the premier global digital asset trading platform, is pleased to announce the official launch of its new trading platform in Hong Kong to continue serving local institutional and retail investors.
The BitMart Hong Kong (HK) aspires to establish itself as a leader in the digital asset landscape in Hong Kong, offering diversified trading solutions to experienced traders and newcomers venturing into the realm of cryptocurrencies. Currently, BitMart Hong Kong (HK) supports spot trading of prominent digital assets, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Furthermore, it aims to extend the capabilities of BitMart Hong Kong (HK) by introducing new services that will provide retail and institutional clients with a broader range of trading possibilities.
Starting from day one, BitMart has always been committed to upholding the compliance standards of its trading platform operations. BitMart has maintained a substantial presence and provided trading services to users in Hong Kong since the year of 2018. With the new regulation coming in effect on June 1, 2023, BitMart shall continue its operation under the transitional arrangement while getting ready to embrace the robust regulatory regime by submitting the Virtual Asset Service Provider (VASP) license application to SFC promptly.
Security, regulation, anti-money laundering, and compliance stand as integral principles and benchmarks deeply valued by BitMart. Hong Kong has emerged as a prominent destination for the cryptocurrency industry in recent years. By introducing the new Virtual Asset Service Provider (VASP) system, the Hong Kong government has successfully established a robust regulatory framework and conducive environment, positioning Hong Kong as a leading global hub for digital assets.
Sheldon Xia, the Founder and CEO of BitMart, expressed, “The primary objective of BitMart Hong Kong (HK) is to provide users with a secure and compliant trading environment. We are resolute in adhering to the regulatory standards set forth by the Hong Kong authorities, actively contributing to the growth and advancement of Hong Kong’s digital asset industry. Our collaborations with distinguished professionals and our unwavering commitment to transparency and accountability will solidify BitMart Hong Kong (HK) as a trusted platform for users seeking reliable and compliant trading services.”
Notably, BitMart has engaged the expertise of a professional consulting team in Hong Kong, which includes former government officials from the Securities and Futures Commission (SFC), to provide compliance consulting services for its Hong Kong operation. The platform will meticulously align its operations with the rules and policies stipulated by the Hong Kong SFC under the new regulatory regime.
About BitMart Hong Kong (HK)
BitMart Hong Kong (HK) is a digital asset trading platform exclusively catering to users in Hong Kong. As a subsidiary of BitMart, the platform firmly believes that decentralized digital assets hold the power to fundamentally reshape the global financial ecosystem, fostering more efficient asset circulation, equitable resource allocation, and transparent transaction processes. BitMart Hong Kong (HK) diligently adheres to regulatory standards, prioritizing the security of user funds, implementing robust anti-money laundering policies, and demonstrating unwavering compliance capabilities.