Hong Kong, April 19, 2021, 2021. Magic Circle, a provider of STO solutions, today announced a strategic partnership with HKVAX, a Hong Kong-based virtual asset trading platform, to provide services for customers in Hong Kong and Asia seeking to take advantage of security tokens (STOs). This comes as the Securities & Futures Commission of Hong Kong ("SFC") moves closer to fully regulating cryptocurrency in 2021.
Hong Kong is considered to be one of the crypto friendliest and supportive cities in Asia and will soon become the main financial hub for tokenized securities (STOs).
HKVAX, short for Hong Kong Virtual Assets Exchange Private Limited, is a virtual assets exchange that provides professional virtual assets trading and customized services for institutions looking to invest in the virtual assets and financial technology sectors.
Magic Circle, is dedicated to providing solutions and tools for both digital securities issuers and investors, helping clients invest in STOs and trade flexibly in a compliant and convenient process, while developing a global investor network. Magic Circle is already helping several Chinese and foreign companies adopt STOs. Magic Circle has also developed and designed a complete set of chain-neutral STO compliance issuance platforms, compliance trading protocols, digital identity and ST wallet tools. With 3 years of development, Magic Circle has become a leading STO consultant and technology provider in Asia.
Through the strategic partnership with HKVAX, Magic Circle will support and promote the business expansion of HKVAX, to collectively establish a trading market that complies with Hong Kong securities regulations. At the same time, HKVAX will also cooperate with Magic Circle to support the technical infrastructure of its issuance platform.
"Magic Circle is a global leader in asset tokenization technology with previous STO experiences in US & China," said Matthew Cheung, Chief Strategy Officer of HKVAX. "We believe through partnering with Magic Circle, we can bring the best virtual asset offerings to our Asia customers."
"Digital assets has already formed a global trend and consensus, and more and more financial institutions and investors are starting to invest in it. And compliance is a common need for market participants and regulators. We are honored to have the opportunity to cooperate with HKVAX to jointly promote compliant digital asset issuance and trading, explore innovative digital asset products and issuance and trading methods, and improve the related technical infrastructure together," said Doer Qu, CEO of Magic Circle. "We believe that working with the young and innovative team of HKVAX will further drive the development of the compliant digital asset market in Hong Kong and Asian. We also look forward to Magic Circle's clients being able to trade on HKVAX's platform soon."
About HKVAX
HKVAX is a regulated virtual asset exchange in Hong Kong that is building a trusted and secured infrastructure layer for trading, where different parties can collaborate with each other, investors having exposure to the new digital asset class, and issuers can engage with a wide range of investors. Creating a safe, fair and bona fide environment for everyone.
Please visit http://www.hkvax.com to learn more.