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Hong Kong’s Hashkey released its latest 2024 summary giving out its numbers for the year. According to reports, the Hong Kong-compliant exchange said that in 2024 its capital surpassed HK$10 billion (USD 1.3 billion) while its overall transaction volume surpassed HK$600 billion (USD 77.2 billion).
The growth for the exchange comes at a time when Hashkey is expecting a rise in the crypto market in China and Hong Kong and has also witnessed a growing userbase across the globe.
Hashkey Sees 85% Growth in 2024
The transaction and capital numbers bring the yearly growth rate of the exchange at 85%, according to a translated version of the release. Additionally, the OPT business transaction volume grew at a rate of more than 160% in 2024.
The growth also signifies the rise of the crypto sector in Hong Kong, which has likely aided the exchange in its rise.
Managed by HashKey Bermuda Limited, HashKey Global functions as a platform for trading digital assets. A Class F license issued by the Bermuda Monetary Authority gives the business legitimacy and permits it to provide a variety of mainstream trade and service items.
These include the creation of contracts, leveraged options trading, and LaunchPad.
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HashKey Group Chairman Predicts Rise in China Crypto Market
The rise in the 2024 metrics for Hashkey exchange could see a further ascending trajectory in 2024 if the exchange is able to see growth of crypto in mainland China.
In the same tone, previously, HashKey Group Chairman Xiao Feng had expressed hope about the Chinese cryptocurrency market’s recovery given that the global crypto market was also on a steady rise.
Additionally, Trump’s support for cryptocurrencies may put pressure on China to relaunch the digital asset market within the next two years, according to Xiao Feng, head of the HashKey Group.
Hong Kong’s Crypto Growth Likely To Aid Hashkey’s Future Rise
It is no surprise that Hashkey’s growth in major metrics comes simultaneously as Hong Kong progresses to become a hub of crypto in Asia. This rise is likely to aid the exchange in the future as well.
Just previously, legislators in Hong Kong have suggested making Bitcoin a budgetary reserve. The formal announcement, which was issued earlier today on December 30, states that they have proposed incorporating Bitcoin into the city’s budgetary reserves and investigating the possibility of purchasing and holding it for a long time using the Exchange Fund.
As cryptocurrency popularity has increased globally, Hong Kong has likewise changed how it views digital assets. Hong Kong has rapidly become a global center for the issuance and trading of digital assets, attracting investors with its growing liquidity and the incentives and controls provided by an active regulator.
Read Also: AVAX & LINK Gets Listed On Hong Kong’s Hashkey Exchange