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It’s important to distinguish between traditional regulated broker-dealers who are expanding into blockchain and Virtual Asset Trading Platforms (VATPs) that are licensed specifically for virtual assets. The Hong Kong Securities and Futures Commission (SFC) has a specific licensing regime for VATPs.
Here’s a list of regulated entities in Hong Kong that have demonstrated significant involvement in blockchain projects, keeping in mind the evolving regulatory landscape:
Licensed Virtual Asset Trading Platforms (VATPs) by the SFC (as of May 13, 2025):
These are entities licensed by the SFC to operate virtual asset trading platforms and are inherently involved in blockchain projects by the nature of their business.
* OSL Digital Securities Limited (OSL Exchange): Granted the first license by the SFC in December 2020. OSL offers brokerage, custody, exchange, and SaaS services for digital assets to professional investors and has expanded to retail investors.
* Hash Blockchain Limited (HashKey Exchange): Received its license in November 2022 and offers trading of cryptocurrencies and virtual assets to institutional and professional investors, and has also expanded to retail.
* Hong Kong Virtual Asset Exchange Limited (HKVAX): Licensed in October 2024.
* Hong Kong Digital Asset EX Limited (HKbitEX): Licensed in December 2024.
* Accumulus GBA Technology (Hongkong) Co., Limited (Accumulus): Licensed in December 2024.
* DFX Labs Company Limited (DFX Labs): Licensed in December 2024.
* Thousand Whales Technology (BVI) Limited (EX.IO): Licensed in December 2024.
* Panthertrade (Hong Kong) Limited (PantherTrade): Licensed in January 2025.
* YAX (Hong Kong) Limited (YAX): Licensed in January 2025. YAX is a fully-owned unit of Tiger Brokers and is authorized to facilitate cryptocurrency trading and custody services, with approval to expand to retail clients.
* Bullish HK Markets Limited (Bullish): Licensed in February 2025.
Traditional Regulated Broker-Dealers Entering the Crypto Space:
These are established broker-dealers licensed by the SFC for traditional securities who have expanded their services to include virtual assets through partnerships with licensed VATPs or by obtaining the necessary upgrades to their licenses.
* Tiger Brokers (HK): Upgraded its SFC license to include crypto trading for professional investors and financial institutions. It has partnered with SFC-licensed virtual asset platforms to offer virtual asset trading to its clients. They have also received approval for their fully-owned unit, YAX, to operate as a licensed VATP.
* Interactive Brokers Hong Kong: Became the first SFC-licensed securities broker in Hong Kong approved for offering cryptocurrency trading to retail clients through a partnership with OSL Digital Securities.
* Victory Securities: Obtained a license from the SFC to offer crypto trading services for retail investors.
* Futu Securities (FUTU): While not explicitly detailed as having a full VATP license, they are reportedly offering virtual asset services to professional investors and are exploring further expansion in the crypto space under the SFC’s regulatory framework.
* Webull: Similar to Futu, Webull is reportedly offering virtual asset services to professional investors in Hong Kong.
Important Considerations:
* Licensing Scope: The SFC’s licensing regime for virtual assets is still evolving. Some broker-dealers might offer crypto access through specific arrangements with licensed VATPs rather than holding a full VATP license themselves.
* Focus on Professional Investors: Initially, many traditional broker-dealers focused their virtual asset offerings on professional investors as per the SFC’s initial guidance. However, the trend is moving towards offering services to retail investors as well, with the appropriate licenses.
* “Significant Projects”: The term “significant blockchain projects” can be interpreted in various ways. The entities listed above are significantly involved in providing access to virtual assets, which inherently rely on blockchain technology.
It’s advisable to check the latest announcements and the SFC’s official register of licensed virtual asset trading platforms and intermediaries for the most up-to-date information. The regulatory landscape for virtual assets in Hong Kong is dynamic, with new licenses being granted and existing players expanding their services.

Video courtesy of CSOB

Video courtesy of CSOB