HashKey Global has announced the trading debut of its HSK token on the Innovation Zone. The new listing will help HashKey integrate its token to all of its business.
According to the official announcement, the HashKey Platform Token (HSK), will be essential to the whole HashKey ecosystem and promote widespread Web3 community adoption.
HSK/USDT Pair To Start Trading On November 26
With the opening of HSK/USDT spot trading on November 26, HashKey Global will open deposits for the token on November 7. All HashKey businesses, including international licensed exchanges, investment and asset management, tokenization, infrastructure services, and more, will use HSK, making it the platform token of the HashKey Group.
Furthermore, HSK is the gas token and native token of HashKey Chain, an L2 public chain that supports the ecosystem’s long-term expansion.
Ben El-Baz, Managing Director of HashKey Global, comments: “HSK is not just a token but a bridge between Asia and the global financial infrastructure.”
He adds, “HashKey Global, as an important business of HashKey Group, will not only provide robust liquidity support and a stable trading environment for HSK, but will also continue to support the global expansion of the HSK ecosystem, safeguarding the development of a premier compliant Web3 ecosystem.”
The opening of HSK deposits is scheduled for November 7 at 7:00 (UTC). Spot trading for HSK/USDT will begin on November 26 at 10:00 (UTC), and HSK withdrawals will open on November 27 at the same time.
HashKey’s New Addition of HSK Comes After Previous Advancements
HashKey’s new addition of the native token comes after it had previously started futures trading on its platform.
The licensed digital assets exchange had declared that it had been given regulatory clearance to formally begin trading futures. The platform initially supported up to 10x leverage for Bitcoin and Ethereum.
HashKey Global now holds a “100% Invitation Rebate on Futures” event and a temporary futures trading campaign to commemorate the launch. Futures trading, a more established form of derivatives trading, is very popular in the cryptocurrency market.
However, there are still many problems in the market, like platforms trading against their customers and abusive trading that causes large losses for consumers, because there is insufficient regulation. The international crypto community has long criticized these practices.
Therefore, the platform lowers the risk of illegal manipulation of prices and customer losses from a product design and regulatory perspective by not engaging in counterparty trading with customers.