Cryptocurrency exchange BitMart has officially launched its trading platform in Hong Kong, Asia's largest financial center.
BitMart Hong Kong (HK) currently supports spot trading of major digital assets, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
BitMart has been offering trading services to users in Hong Kong since 2018. With the new regulation taking effect on June 1, 2023, the exchange will continue to operate under the transition agreement while it prepares to apply for a virtual asset service provider (VASP) license with the SFC, according to BitMart's website.
"BitMart is currently utilizing the expertise of a professional consulting group in Hong Kong, which includes former government officials from the Securities and Futures Commission (SFC), to ensure compliance with the new regulations," the exchange said in a statement.
BitMart said it will continue to expand the functionality and reach of its Hong Kong unit by introducing new services that will provide retail and professional clients with a wider range of trading opportunities.
We previously reported that BitMart and UniSat Wallet are partnering to promote BRC-20.
The BitMart exchange was established in the Cayman Islands in 2018 and features high trading volumes and a high level of protection for user data and funds. The advantages of the platform include a simplified trading terminal for beginners as well as the possibility of passive deposit income with a credit service.
