Securities and Futures Commission (SFC) granted operational Hong Kong crypto licences to two cryptocurrency trading platforms, PantherTrade and YAX, on 27 January 2025.

This marks the year’s first two Hong Kong crypto licences approvals, bringing the total number of licensed virtual asset trading platforms (VATPs) to seven since the SFC initiated its stringent licensing regime in mid-2024.

In December 2024, the SFC issued licences to four platforms—HKbitEX, Accumulus, DFX Labs, and EX.IO—as part of its drive to regulate the industry and enhance investor protection.

According to Dr. Eric Yip, SFC’s Executive Director of Intermediaries, the commission has been actively engaging with the senior management and ultimate controllers of VATPs to ensure compliance with regulatory expectations. He said,

“We have been proactively engaging with VATPs’ senior management and ultimate controllers, which helps drive home our expected regulatory standards and expedite our licensing process for VATPs.”

He further emphasised that the commission aims to balance investor protection with the continuous development of Hong Kong’s virtual asset ecosystem.

PantherTrade is a Hong Kong-based cryptocurrency exchange that enables users to buy, sell, transfer, and store digital assets securely. The platform supports major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). PantherTrade is a subsidiary of Futu Holdings.

YAX, on the other hand, is a cryptocurrency exchange that aims to simplify digital asset trading and valuation. YAX is a wholly-owned subsidiary of Tiger Brokers, a Nasdaq-listed financial services firm.

As more exchanges seek regulatory approval, Hong Kong is positioning itself as a leading hub for digital assets in Asia, balancing security, compliance, and industry growth.

Source of image: Edited from Freepik