Three months after announcing plans to enter Hong Kong, Gate Group is stepping its foot into the administrative region.
Diving into the bustling crypto scene in Hong Kong, Gate Group, the parent company behind crypto exchange Gate.io, has proudly unfurled its latest venture: a new virtual asset trading platform dubbed Gate.HK.
The platform opened its digital doors on May 23rd. Gate.HK invites users to deposit, withdraw, and trade a number of cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Litecoin (LTC).
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Serving both retail users and professional investors, Gate.HK aspires to deliver a broad spectrum of trading services tailored to a diverse user base.
In its announcement, the company highlighted that in the future, it plans to introduce "a more extensive range of trading choices."
It is worth noting that, in February, Gate Group founder Dr. Han Lin revealed Gate Group’s plans to enter Hong Kong after the local government pledged $6.4 million to boost Web3 adoption in the administrative region.
Another encouraging sign for Gate Group and its peers on the day Gate.HK began operating, the Hong Kong Securities and Futures Commission (SFC) announced its plans to allow licensed platforms to serve retail investors.
The regulatory body indicated that those operators keen to adhere to the proposed regulations could apply for a license. The guidelines covered a wide range of issues, including but not limited to the safety of asset custody, cybersecurity standards, and the segregation of client assets.
As Gate Group makes its debut in Hong Kong with the newly launched Gate.HK platform steps into a region that is not just embracing but actively encouraging crypto industry growth.