Cryptocurrency exchange OKX has launched an upgraded application today, offering Hong Kong users access to spot trading for 16 major cryptocurrencies. This move aligns with Hong Kong's regulatory framework for Virtual Asset Service Providers (VASPs).
Available Cryptocurrencies on OKX Hong Kong
The platform currently supports spot trading for the following cryptocurrencies:
- BTC (Bitcoin)
- ETH (Ethereum)
- ADA (Cardano)
- MATIC (Polygon)
- SOL (Solana)
- DOT (Polkadot)
- UNI (Uniswap)
- LINK (Chainlink)
- SAND (The Sandbox)
- LTC (Litecoin)
- AVAX (Avalanche)
- AXS (Axie Infinity)
- ATOM (Cosmos)
- XLM (Stellar)
- USDT (Tether)
- USDC (USD Coin)
Regulatory Compliance and Security Measures
OKX established a Hong Kong entity earlier this year to apply for a VASP license under the city's new regulatory regime effective June 1, 2023. The exchange has enhanced its operational and monitoring systems over the past year while collaborating closely with local regulators to demonstrate compliance with strict VASP requirements regarding:
- Asset custody security
- Anti-money laundering (AML) protocols
- Financial solvency
👉 Discover how OKX maintains 100% reserve backing for user assets
The exchange publishes monthly Proof-of-Reserves reports verified through zk-STARK technology (Zero-Knowledge Scalable Transparent Argument of Knowledge), allowing independent verification of its:
- Financial health
- 1:1 user asset backing
April's reserve report confirmed OKX holds $10.4 billion in BTC, ETH, and USDT reserves.
Executive Perspective
Lennix Lai, OKX Global Chief Commercial Officer, stated:
"We believe every Hong Kong user deserves reliable tools to explore cryptocurrency. OKX commits to delivering secure, straightforward trading while fully complying with Hong Kong's VASP regulations. We'll continue working with regulators on our license application and support Hong Kong's development as a thriving virtual asset hub."
Trading Options for Hong Kong Users
The upgraded OKX app enables:
- Spot trading for 16 major virtual assets
Multiple payment methods:
- HKD transactions
- P2P trading
Third-party services via:
- Apple Pay
- Visa/Mastercard
The exchange plans to introduce additional features in coming months under Securities and Futures Commission (SFC) guidelines to enhance user experience.
FAQ: OKX Hong Kong Services
Q: What makes OKX different from other crypto exchanges in Hong Kong?
A: OKX stands out through its monthly Proof-of-Reserves reporting, zk-STARK verification technology, and proactive compliance with Hong Kong's evolving VASP regulations.
Q: Can I deposit and withdraw HKD on OKX?
A: Yes, the platform supports HKD transactions alongside P2P and card payments through third-party providers.
Q: How does OKX ensure the safety of my assets?
A: The exchange maintains 100% reserves backing user holdings, with monthly audits verifiable through advanced zk-STARK cryptography.
Q: Will OKX add more cryptocurrencies for Hong Kong users?
A: The exchange plans to expand offerings in compliance with SFC guidelines while prioritizing regulatory compliance.
👉 Explore OKX's secure trading platform today
Disclaimer: This content provides market information only. All views expressed constitute neither investment advice nor the official stance of the publisher. Investors should conduct independent research and assume all risks associated with trading activities.