HashKey Crypto Exchange from Hong Kong Debuts Worldwide Platform, Targeting to Surpass Coinbase Within Five Years

HashKey Group, the leading licensed digital currency exchange in Hong Kong, has unveiled HashKey Global, its latest international trading platform. This strategic move is aimed at propelling the enterprise to surpass the trading volumes of the US-based Coinbase within a five-year horizon.

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Boasting over 170,000 registered patrons, the HashKey Exchange recorded approximately US$35 million in daily trade volume last Monday. Despite ranking 15th based on CoinGecko’s trust score system, the exchange’s volume is still modest compared to the leaders in the field.

For perspective, Binance clocked in a 24-hour normalized trading volume of US$6.3 billion, and OKX surpassed US$2.1 billion, according to CoinGecko’s statistics.

HashKey’s ambition is to bolster its market presence significantly, with Weng expressing confidence that their international exchange is capable of outperforming Coinbase’s trading volume across all of HashKey Group’s platforms by 2029.

“Their data is already within our sights, and the challenge doesn’t appear formidable,” shared Weng.

Weng forecasts the global exchange will be particularly alluring to overseas Chinese and investors throughout other Asian markets where offshore crypto exchanges face no restrictions.

Amidst the global competition of crypto exchanges, HashKey Global distinguishes itself as a compliant platform that also prioritizes a seamless user experience, according to the COO.

He observes that most significant exchanges are either “user-friendly but not compliant” or “compliant but not user-friendly.”

The HashKey Group ecosystem includes investment firm HashKey Capital and an asset-management division. These entities are part of a broad spectrum of cryptocurrency businesses that are optimistic about Hong Kong’s supportive stance on virtual assets.

The crypto industry had previously experienced a decline in public trust due to prominent scandals, including FTX’s collapse and a local fraud involving JPEX exchange. However, the sector has witnessed a revitalization, spurred by a bitcoin price surge, climaxing at a record-breaking figure exceeding US$73,000 last month.