OKX Approaches the Last Licensing Milestone in Hong Kong for 2024

PUBLISHED: Sep 05 2023 @ 19:36 | Comments (0) | More info about Azeez Mustapha

In an exclusive announcement, OKX Group’s Commercial Director, Jimmy Lai, discloses that the company stands on the brink of securing a coveted cryptocurrency license in Hong Kong. With ambitious plans in mind, OKX Group is poised to draw a substantial wave of retail investors, targeting a range of 100,000 to 200,000 individuals in Hong Kong.

This noteworthy advancement within the cryptocurrency exchange sector represents a crucial stride towards broadening their regional activities.

OKX Group’s pursuit of a license in Hong Kong is regarded as a strategic endeavor aimed at strengthening its foothold and addressing the burgeoning enthusiasm for cryptocurrencies among retail investors. Lai conveyed his confidence that obtaining this license would open the door to an anticipated influx of 100,000 to 200,000 retail investors in Hong Kong, further propelling the cryptocurrency market’s forward momentum.

Nonetheless, experts in the industry, such as Li Zhikai, offer a note of caution regarding the expectation of a surge in the number of licensed securities companies in Hong Kong in the forthcoming year. Zhikai, who closely monitors regulatory developments, foresees a prudent stance from the China Securities Regulatory Commission. He envisions that this regulatory body will impose stringent prerequisites on potential license applicants, with the primary aim of upholding stability and security within the cryptocurrency market.

Businessman checking stock market data. He using a mobile phone. Analysis economy data on forex earn graph.

Zhikai’s perspective underscores the authorities’ preference for vigilant monitoring of the performance and adherence to compliance standards by the initial cohort of license holders before considering any substantial expansion. This cautious approach also serves the dual purpose of protecting the interests of investors and preserving the integrity of Hong Kong’s burgeoning cryptocurrency ecosystem.

Learn from market wizards: Books to take your trading to the next level

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.