Bullish HK Markets Limited officially secured its Bullish Hong Kong VATP license on 18 February 2025, issued by the Hong Kong Securities and Futures Commission (SFC).
A subsidiary of Bullish Group, the company has been granted Type 1 (dealing in securities) and Type 7 (providing automated trading services) licenses by the SFC.
These approvals authorise Bullish HK to operate as a virtual asset trading platform (VATP), enabling it to deliver comprehensive services to eligible customers in Hong Kong.
Licensed VATPs can serve retail and professional investors (e.g. institutional professional investors), subject to compliance with robust investor protection measures and additional safeguards for retail investors, as outlined in the SFC’s Guidelines for VATP Operators.
Tom Farley, Bullish’s CEO, stated,
“This milestone is a testament to Bullish’s dedication to expanding our global footprint and continuation of our commitment to being the most trusted digital asset exchange.”
The Bullish Group brings together technology and investment enterprises aiming to advance services in the digital assets industry. Its digital asset exchange functions within a secure and regulated environment.
Bullish has recently strengthened its presence in Europe by obtaining licenses from the German Federal Financial Supervisory Authority (BaFin).
In Hong Kong, post securing its Bullish Hong Kong VATP License, the company will initially focus on serving professional and institutional investors.
At the time of writing, the current number of licensed VATP operators authorised by the SFC is now ten, including Bullish HK Markets Limited. Two other companies secured VATP licenses this year, PantherTrade and YAX.
Notably, the Securities and Futures Commission (SFC) recently implemented a swift licensing process for new VATP applicants, introduced on 16 January 2025.
This process requires applicants to establish robust compliance measures before undergoing an external assessment, with the SFC directly overseeing the process. The successful licensing approvals under this framework reflects the SFC’s operational readiness and its commitment to upholding regulatory standards.
Source of image: edited from Freepik
