HKVAX

HKVAX (Hong Kong Virtual Asset Exchange) is an SFC-licensed virtual asset trading platform operating within Hong Kong's regulated crypto framework. Positioned between the retail-facing HashKey and OSL platforms and the pure-institutional OTC desks, HKVAX targets professional investors and high-net-worth individuals seeking a regulated, locally compliant venue for digital asset trading and custody.

About HKVAX

HKVAX was established as part of Hong Kong's broader effort to build a comprehensive regulated digital asset ecosystem. The platform obtained its SFC VATP licence as Hong Kong moved to require all crypto trading platforms serving Hong Kong investors to be licenced under the Securities and Futures Ordinance. HKVAX is backed by shareholders from Hong Kong's financial industry, reflecting institutional support for the city's regulated crypto ambitions.

Unlike HashKey Exchange and OSL — which both have HKEX-listed parent companies — HKVAX is a more focused standalone entity dedicated to building regulated virtual asset infrastructure. Its professional investor focus allows it to offer a wider range of services and asset types than retail-oriented platforms, which face stricter SFC constraints on eligible assets and marketing.

Key Facts

Key Features

Professional Investor Focus

HKVAX's professional investor orientation is both a regulatory classification and a strategic positioning. Under Hong Kong's Securities and Futures Ordinance, "professional investors" include individuals with a portfolio of at least HKD 8 million in investable assets, as well as institutional entities. By serving this segment, HKVAX can offer a broader range of digital assets and structures than retail-licensed platforms, while maintaining full SFC regulatory compliance.

Institutional Custody

HKVAX provides regulated digital asset custody services designed to meet the requirements of Hong Kong-regulated financial intermediaries. The custody infrastructure uses institutional-grade cold storage with multi-signature authorisation and insurance coverage, supporting family offices, asset managers, and corporate treasuries that require regulated local custody rather than relying on offshore custodians.

OTC Trading Desk

For professional clients executing large transactions, HKVAX's OTC desk provides block trading with price certainty and minimal market impact. OTC transactions are settled directly between counterparties with HKVAX acting as the regulated intermediary, providing compliance documentation and audit trails required by institutional risk management frameworks.

HKD and USD Settlement

HKVAX supports settlement in both Hong Kong Dollar and US Dollar, allowing clients to operate within their existing treasury and banking relationships. HKD settlement via FPS (Faster Payment System) enables same-day settlement for local Hong Kong counterparties.

HK Licensed Exchange Comparison

Pros & Cons

Summary

HKVAX fills a specific niche in Hong Kong's regulated crypto landscape: a licensed platform dedicated to professional investors and institutions who need locally-regulated spot trading, OTC execution, and custody — but are not served by the retail-oriented HashKey and OSL products. For family offices, asset managers, and corporate treasuries operating in Hong Kong and seeking an SFC-compliant crypto counterparty, HKVAX provides a focused, professional alternative.

HKVAX is not a platform for the retail crypto investor. Its value proposition is regulatory compliance, local custody, and professional-grade service for those who need it. As Hong Kong's digital asset market continues to mature and more institutional capital seeks regulated local exposure, HKVAX is well-positioned to grow its institutional client base.