Global crypto exchange Gateio has applied for a crypto license on behalf of its Hong Kong-based startup, Gate HK.
Hippo Financial Services Limited, the Hong Kong-based company of the popular cryptocurrency exchange Gate.io, has completed the current application processes and has been awarded the TSCP License. Following this development, Gateio made a new move to have a greater say in the Hong Kong market. Gateio has completed the required crypto license application on behalf of Hong Kong-based Gate HK.
Gateio Winks Hong Kong Market With Crypto License Application
Gate.io, one of the globally popular crypto money exchanges, has obtained the TCSP License on behalf of its Hong Kong-based company Hippo Financial Services Limited. Following the licensing process, the exchange has applied for a new license that will allow them to launch a new entity, Gate HK, designed for the Hong Kong market to expand their operations in the region.
Planning to expand its presence in the Hong Kong market, Gate.io took a strategic step by obtaining the TCSP license, which is required for organizations operating in the region, such as trusts or businesses. With this move, Hippo Financial Services is actively managing local operations, focusing on providing oversight of virtual assets. In addition, teams are formed to ensure the security of the service infrastructure and customer assets with the allocated budget.
Gate.io deepens its relationship with global crypto investors
Gate HK, the Hong Kong arm of Gateio, is expected to launch soon after the new cryptocurrency license application process.
This development is of great importance in the adoption of blockchain technologies and popularization of virtual assets in the current market. The steps taken will not only deepen Gateio’s relationship with global crypto investors, but also increase confidence in the exchange.
“Gate.io continues its preparations for a new crypto license”
Making statements about the new developments in Hong Kong on his social media account in the past days, Gateio Founder Dr. Han Lin said:
“I am very excited for Hong Kong. Gateio, which obtained the TCSP license in Hong Kong, is also continuing its preparations for a new crypto license. Meticulous Gate HK continues to work as a new specially designed value to serve Hong Kong’s growing crypto market. Continue to follow us.”
Gateio currently continues to comply with regulatory considerations. On the other hand, the exchange, which has a Hong Kong-based team for over six months, is building a good foundation to provide a secure and reputable platform for the upcoming Gate HK establishment and virtual asset custody services.
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