In line with its current focus on global expansion, Gate.io Hippo Financial Services has secured virtual assets license from the Hong Kong regulators.
The Hong Kong expansion was announced in a release on Monday by the firm, and henceforth, Gate.io’s Hippo Financial Services will provide services to residents of Hong Kong.
“Establishing a custody business in Hong Kong is a global strategic milestone of Gate.io Group, not only because Hong Kong is the hub for many financial institutions and investors, but more importantly, the industry-leading regulatory regime of Hong Kong provides additional confidence for investors that place assets in Hippo FS’s custody,” Gate.io CEO Han Lin said in the release.
Gate.io owns diverse ecosystems like blockchain, cryptocurrency exchange, and decentralized finance, it currently focuses on the expansion of its services across the globe.
Gate.io’s exchange after leaving China as per China’s crypto ban is now based in the Cayman Islands.
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