Hong Kong crypto giant HashKey merges regional exchange into one

Hong Kong digital asset services business HashKey Holdings has merged its HashKey Exchange and HashKey Global exchanges into a single platform and application.

Core jurisdictional hubs including Hong Kong, Singapore, the Middle East (Dubai) and Bermuda have been merged under a single platform, according to a Monday announcement. The move represents a departure from the early stages of the virtual asset industry when licensed exchanges typically operated under regional siloed models to simplify compliance. HashKey said.

The transition follows a principle of “unified entry, localized compliance” where all users download the same application while the platform manages compliance across their specific legislative domain — across the Hong Kong, Global, Singapore, or Middle East regions.

This results in a single front-end that simplifies access to systems that are promised to remain compliant with local regulatory frameworks thanks to localized management.

Other platforms, including OKX, present their website and mobile apps as one platform, while its terms assign customers to different providers according to residence. On the legal backend, that same platform is based on separate entities for Singapore, Dubai, Australia, the EEA, Brazil and the United States.

Kraken similarly consolidated Dutch broker BCM into its platform after acquiring it in September 2024. In August, Kraken began serving its European Economic Area through its Irish MiCA entity under a similar unified regulatory framework.