HashKey has issued an announcement stating that they will launch a trading platform tailored for retail investors on the 28th (next Monday). During an interview, Chief Operating Officer of HashKey Group, Livio Weng, mentioned that initially, retail investors will have the option to purchase BTC and ETH, with a restriction on virtual asset investments not exceeding 30% of their total assets.
Livio Weng explained that a tiered system will be established for retail investors. Through a KYC process, the investors' investment experience and risk tolerance will be evaluated. Additionally, a questionnaire will be used to assess the understanding of virtual assets, keeping novice investors' participation relatively limited. In the initial phase, the first batch of retail investors will only be able to purchase BTC and ETH. Currently, the regulatory authorities have not granted approval for margin and derivative tools. However, once regulatory permissions are granted, various products will be introduced and categorized for different user segments.
HashKey will collaborate with multiple commercial banks to provide fiat currency deposit and withdrawal services to users. Initially, transactions will support USD and will not include HKD support for the time being. Only bank card transactions will be accepted temporarily, and credit card transactions will not be supported. If a retail investor's virtual asset investment on the platform exceeds 30% of their total assets, risk warnings will be issued, and investments will be restricted. However, the platform is unable to independently verify users' total assets and can only rely on user-provided information.
Livio Weng emphasized that HashKey is committed to proactive communication with regulatory authorities to advance stablecoin regulations. The platform is also exploring the feasibility of approving certain levels of contract trading and collateralized products. He anticipates that the introduction of derivative products will involve a complex process.