Hong Kong Just Opened the Liquidity Floodgates: HashKey’s CaaS launch, Kraken tie‑up and a $500M IPO plan supercharge the city’s crypto reboot
The in‑depth story A policy pivot to unlock liquidity Hong Kong’s Securities and Futures Commission (SFC) has taken its most market‑opening step since launching a full licensing regime for virtual‑asset trading platforms (VATPs): allowing licensed exchanges to link local order books to their overseas affiliates. SFC chief executive Julia Leung framed it as part of a “multi‑pronged” plan to integrate with global liquidity while preserving safeguards—delivery‑versus‑payment, prefunding at overseas VATPs, a Hong Kong reserve fund for compensation, and joint surveillance. sfc.hk Leung said the circular issued during FinTech Week would “enable licensed VATPs to share a global order book with
