2 Crypto Exchanges Licensed by SFC and 11 'Deemed to be Licensed'

June 1st marked the end of the transition period of the licensing system of virtual assets exchanges in Hong Kong, with 2 platforms officially licensed, 11 "deemed to be licensed" (now in the applicant list), and 6 are still waiting to gain their applicant status, according to statistics disclosed by SFC (Hong Kong Securities & Futures Commission).

As SFC encouraged investors to "only trade virtual assets on licensed exchanges," HashKey Exchange and OSL Exchange were put under the spotlight. However, there are outstanding platforms in the "deemed to be licensed" list as well, such as Flying Hippo Technologies Limited (Matrixport HK).

Flying Hippo Technologies Limited(Matrixport HK) was registered on May 22nd, 2019 in Hong Kong. Its mother company Matrixport, founded by Jihan Wu in 2019 and headquartered in Singapore, is the largest crypto financial service platform in Asia. Matrixport boasts over $10 billion in assets under management and custody, and over $5 billion in monthly trading volume, providing services including virtual assets trading, lending, assets management and custody for users across the globe. In 2021, Matrixport completed financing as a unicorn startup. In 2022, it was named one of the 50 most promising blockchain and crypto companies in the world by CB Insights, and selected into the 2024 Global Unicorn List released by Hurun Research Institute in April 2024.

As the largest blockchain financial services platform, Matrixport respects the crypto policies of different countries and regions, actively practices and embraces compliance, strictly abides by anti-money laundering regulations in different jurisdictions, and conducts KYC according to the highest standards, with procedures to report suspicious on-chain and off-chain transactions in place. Matrixport is also actively seeking to be licensed in various regions. So far, Matrixport has obtained the Hong Kong Trust or Company Service Provider (TCSP) license, the money lender's license, the UK FCA Appointed Representative (AR) license, and the membership of Swiss FINMA SRO-VFQ.

Matrixport prioritizes assets security and provides all-round protection to user assets in terms of assets security, account security, and risk control. So far, the security licenses that Matrixport has acquired include ISO 27001, ISO 27701, SOC 2 Type 1, and SOC 2 Type 2. The industry-leading assets custody solution Cactus Custody Trademark developed by Matrixport has achieved zero-incident performance since the establishment of Matrixport with its bank treasury-level security protection, cold and hot storage separation, and multi-layer security mechanism. In the meanwhile, Matrixport has secured $50 million insurance coverage for digital assets held with Cactus Custody Trademark , providing yet another layer of protection to user assets.

Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Media Contact
Company Name: Matrixport
Contact Person: Ivy
Email: Send Email [http://www.universalpressrelease.com/?pr=2-crypto-exchanges-licensed-by-sfc-and-11-deemed-to-be-licensed]
Country: Singapore
Website: https://www.matrixport.com



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