Crypto platform Gate.io has finally obtained a license to offer virtual asset custody services in Hong Kong, according to a press release on Monday. This is good news for the crypto exchange platform. This since it is currently focused on a phase of global expansion. Last March, Gate Technology, a branch of the Gate.io group, also obtained its VFA license in Malta. This allows it to operate as a virtual exchange platform, and to offer childcare services in the country.
Gate.io Crypto Platform Expands to Hong Kong
According to Gate.io CEO Han Lin, running a virtual asset custodial business in Hong Kong is a crucial step for the group. Obtaining authorization to operate in/from this country should stimulate the platform’s expansion plan. Indeed, a license in Hong Kong will boost the confidence of investors who place cryptocurrencies in the custody of Hippo Financial Services. Hong Kong is a country highly valued by many cryptocurrency platforms for its state-of-the-art regulatory policies. So it’s no surprise that Gate.io is visibly pleased with the license approval.
Gate.io: a growing platform
The crypto platform, Gate.io is a growing Chinese company. Founded in 2013, this platform provides access to more than 180 cryptos and nearly 400 stock markets. Last March, Gate.io also obtained its license to offer its services in Malta. This authorization allows it to manage a scholarshipexchange of crypto and to offer VFA custody services in the country. The only downside according to its users? The Gate.io platform does not deal with fiat currencies, only crypto exchanges. However, it offers its services at a nominal fee.
Obtaining the license to offer VFA custody services in Hong Kong is an important milestone for Gate.io. Besides that, the band is definitely not going to stop there. It wants to cover more geographical areas and allow its users to have easy access to cryptocurrencies.
Source : Watcher.guru
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