HashKey Exchange Teams Up with imToken for Non-Custodial Wallet Services on Launch Day
In Brief
HashKey Exchange has appointed imToken as its non-custodial wallet partner.
The wallet will cater to users who want to self-manage their digital assets.
HashKey Exchange, Hong Kong’s first licensed retail virtual asset exchange, has entered a strategic partnership with non-custodial crypto wallet provider, imToken.
In this partnership, both entities aim to offer users a secure and user-friendly platform to independently manage their digital assets. Moreover, Hashkey Exchange announced plans to furnish imToken users with a dependable avenue to engage in digital asset trading, featuring direct bank transfers for seamless fiat on and off-ramps.
The collaboration also closely follows HashKey Exchange’s recent announcement of receiving upgrades of its Type 1 (Dealing in securities) and Type 7 (Providing automated trading services) licenses earlier this month. This allows the exchange to offer retail trading services to meet growing market demands.
While announcing its license upgrades, the company also revealed plans to establish more partnerships with top-tier banks – including Standard Chartered. This is aimed at providing streamlined mechanisms for fiat currency funding and withdrawal services, enhancing platform accessibility for users.
HashKey Exchange serves as the primary enterprise under its parent company, HashKey Group. The exchange operates from Hong Kong, whereas imToken is headquartered in Singapore. As a crypto wallet provider, imToken claims to be the “Asia’s leading company”.
In 2021, imToken company raised $30 million in a Series B funding round, with participation from HashKey Capital. imToken claims that it has served over 15 million users in more than 150 countries worldwide since its founding in 2016.
“We are excited to partner with imToken, a renowned name in the decentralized wallet space. By combining HashKey Exchange’s regulated trading platform with imToken’s secure and trustless capabilities, we aim to bring virtual asset management experience to the next level,” Livio Weng, COO of HashKey Group, said in a statement.
Speaking on the partnership with Hashkey Exchange, Ben He, CEO and founder of imToken, said:
“Together, we empower users to take control of their assets while ensuring they have access to a trusted fiat gateway for a holistic Web3 experience.”
HashKey Exchange Officially Live
This partnership announcement coincides with the official launch of the exchange in Hong Kong today.
The Exchange Grand Launch was held today at the Maritime Museum Central, Hong Kong. Executives from the HKSAR
government, top-tier banks, insurers, and Big 4 auditing firms were present at the event.
With the exchange being live, users can now perform direct USD and HKD transfers from their bank accounts. Fiat trading pairs are now available on the exchange’s web platform, starting with BTC/USD, ETH/USD, USDT/USD with more to come.
HashKey Exchange offers six key features:
- Fiat Currency Deposits and Withdrawals: Through a strategic alliance with prominent commercial banks, the platform facilitates fiat currency deposits and withdrawals in USD/HKD.
- Comprehensive Fiat Trading Pairs: HashKey Exchange offers an array of fiat trading pairs, including BTC/USD and ETH/USD. Future plans encompass the addition of more fiat currencies and pairs, with HKD slated for inclusion.
- Licensed Custodial Integrity: The platform’s independent licensed custody system undergoes consistent oversight by securities regulators. Holding a reputable TCSP (Trust or Company Service Provider) license, HashKey Exchange maintains the highest standards in custodial operations.
- Robust Cold and Hot Wallet Segregation: With a strong focus on security, the majority of digital assets (98%) are stored in cold wallets, complemented by a prudent 2% allocation in hot wallets. This meticulous separation strategy fortifies asset protection against potential risks.
- Innovative Asset Insurance: HashKey Exchange pioneers industry progress by collaborating with established insurance institutions to extend comprehensive coverage for client assets under its secure custody.
- Stringent Authoritative Auditing: HashKey Exchange subjects itself to rigorous audits and compliance assessments conducted by reputable Big 4 accounting firms. This dedication to compliance solidifies the platform’s reputation as a globally secure exchange.
In celebration of HashKey Exchange’s official launch, the platform has introduced a zero trading fee promotion, effective immediately. This special offering ensures that all customers can engage in commission-free trading across all transactions.
Disclaimer
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About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.
