After the upgraded application was launched in Hong Kong by OKX, over 10,000 new users registered within a month

Author: OKX

On July 13, 2023, OKX, one of the world's largest cryptocurrency exchanges and a leading Web3 technology company, announced that it had recorded over 10,000 new user registrations from Hong Kong within a month of launching its upgraded application designed for local users in May. This marks the first exchange in Hong Kong to announce this milestone since the new virtual asset service provider (VASP) regime came into effect on June 1, 2023.

Over the past 18 months, OKX has been actively investing in talent acquisition, innovation, technology, compliance, and system security to prepare for applying for a VASP license under Hong Kong's new regulatory regime. The milestone of 10,000 new local users confirms OKX's success and commitment in Hong Kong, demonstrating that its platform can enhance services in line with regulatory requirements while meeting customer demand for innovative products and Web3.

Lennix Lai, Global Chief Business Officer of OKX, stated: "We are very encouraged to see such positive feedback for OKX Hong Kong. The number of new user registrations from Hong Kong shows strong local interest in virtual assets and significant growth potential in a regulated environment. Hong Kong is a very mature and discerning market when it comes to selecting virtual asset platforms, and we believe that compliance with regulatory requirements is crucial for gaining user trust and for driving the future development of the cryptocurrency market. Looking ahead, we hope to bring more exciting products and experiences to Hong Kong users in accordance with regulatory requirements."

OKX announced the establishment of a company in Hong Kong (OKX Hong Kong) in March 2023, allowing it to apply for a VASP license and operate a virtual asset trading platform in Hong Kong. Currently, OKX's upgraded application allows Hong Kong users to buy, sell, and hold 16 major cryptocurrencies while providing security, trading technology, and risk management standards equivalent to traditional exchanges.

To celebrate this milestone, OKX Hong Kong will co-host a celebration event with the official Manchester City fan club in Hong Kong on July 22, 2023 (Saturday). The event will include a Manchester City-themed collectibles exhibition, sharing sessions with local football legends Chan Siu Ki and Chan Wai Ho, as well as interactive games. For more details, please follow OKX's social media platforms.

About OKX

OKX is an industry-leading cryptocurrency exchange and Web3 ecosystem. OKX has developed a cryptocurrency trading application that combines speed and reliability, favored by over 50 million investors and professional traders worldwide.

OKX closely collaborates with Premier League champions Manchester City F.C., McLaren F1 Team, Olympic snowboarder Scotty James, and F1 driver Daniel Ricciardo to enhance fan experiences through new interactive methods. Additionally, OKX is a top partner of the Tribeca Festival, dedicated to attracting more creators into the Web3 space.

In addition to exchange services, OKX has recently launched the OKX Web3 wallet service, providing users with access to trade GameFi and DeFi tokens, and explore the realms of NFTs and the metaverse.

OKX is committed to enhancing transparency and security, releasing its proof of reserves report monthly. For more information about OKX, please download our app or visit.

Disclaimer

This announcement is for reference only. It is not intended to provide any investment, tax, or legal advice and should not be construed as an offer to buy, sell, or hold digital assets. Holding digital assets, including stablecoins, carries a high level of risk, and market volatility may be significant, which could result in the loss of the entire value of your assets. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation and risk tolerance. OKX does not provide any investment or asset advice. You are solely responsible for the investment decisions you make, and OKX will not be liable for any losses. Past performance is not indicative of future results. If you have any questions about your specific situation, please consult your legal/tax/investment advisor.