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OKX Opens up Cardano (ADA) Trading for Hong Kong Individuals

Thu, 05/25/2023 - 08:49
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Arman Shirinyan
Individuals from Hong Kong will finally be able to directly trade digital assets on one of biggest platforms in world
OKX Opens up Cardano (ADA) Trading for Hong Kong Individuals
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In a significant move toward broader digital asset accessibility, OKX, a renowned cryptocurrency exchange, has announced a roster of 16 major cryptocurrencies now available to its retail users in Hong Kong.

The list comprises a diverse range of tokens, including Bitcoin, Ethereum, Cardano, Polygon, Solana, Polkadot, Uniswap, Chainlink, The Sandbox, Litecoin, Avalanche, Axie Infinity, Cosmos, Stellar Lumens, Tether and USD Coin.

Users in Hong Kong can now directly purchase, sell or convert these digital assets via the OKX platform. This includes transactions made with the Hong Kong dollar (HKD), through peer-to-peer (P2P) trading, or by using popular payment options such as ApplePay, Visa or Mastercard via third-party providers.

This new selection of tokens adheres to Hong Kong's regulatory requirements, which stipulate that cryptocurrencies offered to retail investors must be included in one of the two major indexes launched by traditional financial institutions and have been in circulation for at least 12 months. This alignment with the local regulatory framework allows OKX to solidify its presence in Hong Kong, ensuring a compliant and secure environment for users.

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Interestingly, Bitcoin Cash (BCH), one of the tokens included in the conventional entrance index, did not make the cut on OKX's Hong Kong listings. The inclusion of Axie Infinity (AXS) and The Sandbox (SAND), however, surprised many industry observers. This unexpected move could likely be attributed to the government support that Animoca, a key player in the non-fungible token (NFT) and gaming space, receives in Hong Kong.

As the digital asset landscape evolves, so too do regulatory frameworks, and cryptocurrency exchanges like OKX are continually adapting to meet these standards. The introduction of these 16 tokens in the Hong Kong market not only aligns with local compliance measures but also underscores OKX's commitment to facilitating greater digital asset accessibility.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.