On January 27, 2025, the Hong Kong Securities and Futures Commission (SFC) granted licenses to two crypto exchanges: PantherTrade and YAX. This added to the total number of licensed platforms, now nine since the SFC initiated its licensing framework in mid-2024.

Kelvin Liu Kai, CEO of YAX, stated, “We have been granted the virtual asset trading platform operator license from the Hong Kong SFC, a recognition of the strength of our company. In the future, we will…”

Hong Kong is advancing its position in the global cryptocurrency market by issuing its first crypto exchange licenses of 2025, increasing the total to ten, reflecting a growing regulatory acceptance of digital assets.

This announcement aligns with Hong Kong’s broader strategies to be a key player in digital asset trading. The SFC aims to ensure compliance with high standards of investor protection, cybersecurity, and operational transparency. Currently, only four cryptocurrencies (Bitcoin, Ether, Avalanche, and Chainlink) are allowed on licensed platforms.

Explore: Hong Kong Expands Crypto Footprint With Licenses For Four More Exchanges

Key Takeaways:

• The issuance of new licenses to PantherTrade and YAX underscores Hong Kong’s commitment to building a secure and transparent crypto ecosystem.