Fireblocks to become first Hong Kong HKVAC member, fully supporting Hong Kong in building a global Web3 hub
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Fireblocks to become first Hong Kong HKVAC member, fully supporting Hong Kong in building a global Web3 hub
Looking forward to Huobi's successful application for a Hong Kong cryptocurrency trading license in the near future, and working hand in hand with the Hong Kong government, industry regulators, and institutions to co-create a bright future for Hong Kong's crypto market.
Navigating Web3 tides with focused insightsOn May 31, Huobi announced becoming the first member of Hong Kong's HKVAC. This move aims to provide credit ratings for cryptocurrency exchanges and trading products through HKVAC, build a much-needed risk investment database for the market, actively engage in public crypto investment education, and strive to offer Hong Kong traders an "all-in-one" cryptocurrency trading service. Ultimately, using Huobi Hong Kong as a cornerstone, it will fully assist Hong Kong in building a global Web3 hub.
Reportedly, HKVAC is jointly established by numerous participants across the crypto industry, including exchanges, institutional investors, and Hong Kong-based licensing and rating agencies. Its primary goal is to enhance the industry’s capability in security risk management and comprehensively support national and Hong Kong government efforts in establishing a world-leading digital asset and digital finance center. Guided by Hong Kong’s "new crypto policies," HKVAC seeks to create a secure, open, and transparent investment environment for digital assets, guide the public in developing sound and safe crypto investment knowledge, and increase acceptance and recognition of cryptocurrency investments.
As an exchange that has always adhered to "global safety and compliance" operations, Huobi has maintained a perfect industry record of 100% availability and zero security incidents over ten years. Huobi’s membership will contribute professional expertise in exchange security technology and standardized compliance procedures as references for HKVAC. Together, they aim to provide investors with more authoritative risk management indicators, establish strict rating standards, conduct credit assessments of existing exchanges, help more crypto investors understand the risk levels of their investments, and accelerate the construction of a secure and investor-friendly crypto environment in Hong Kong.
Moreover, as a pioneer exploring the development of Web3 gateways, Huobi will collaborate with HKVAC after joining to continuously explore cooperation and upgrades across multiple dimensions such as technology, data, and ecosystem. This partnership will accelerate the deployment of Web3 infrastructure, build bridges between real-world applications and the Web3 world, enable broader public participation in Web3, drive Hong Kong’s Web 3.0 industry development, and work towards positioning Hong Kong as a global center for Web 3.0 (the third generation of the internet).
According to previous reports, Huobi will officially launch its Hong Kong platform—Huobi Hong Kong. Starting June 1, Huobi Hong Kong may deliver optimal trading experiences for Web3 users, allowing them to trade major cryptocurrencies listed on BTC, ETH, TRX, LTC, BCH, Doge, Shib, BTT, SOL, ADA, and other independent indices.
A relevant spokesperson from Huobi stated: “Joining HKVAC will accelerate the continuous advancement of Huobi Hong Kong’s business and lay the foundation for future compliant and lawful operations. Meanwhile, while actively responding to relevant policies, we will collaborate with various industry stakeholders to implement a Web3 innovation ecosystem. Starting from building the Huobi Web3 gateway, we will continue driving Hong Kong’s Web3 development. We look forward to successfully applying for a Hong Kong cryptocurrency trading license in the near future and working hand-in-hand with the Hong Kong government, regulatory authorities, and industry organizations to co-create a bright future for Hong Kong’s crypto market.”
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