HashKey Global, a cryptocurrency exchange launched by Hong Kong’s HashKey Group for international customers, has entered the futures market with the launch of Bitcoin (BTC) and Ethereum (ETH) perpetual contracts.
In an official press release on Wednesday, the company announced it had received a regulatory license from the appropriate financial regulator to offer futures contracts to customers. The firm was already licensed by the Bermuda Monetary Authority (BMA) to offer spot trading and has now obtained additional regulatory approval for its futures offerings.
Launch Details
HashKey Global stated that futures trading would officially begin today, June 19, with support for BTC/USDT and ETH/USDT trading pairs.
Users will have the opportunity to trade the two leading cryptocurrencies with leverage of up to 10x.
The exchange is celebrating this new offering with a “limited-time futures trading campaign” and a “100% Invitation Rebate on Futures” to mark this milestone.
During this campaign, which also begins today, users can earn rewards by participating in futures trading or by inviting others to trade. Rewards will be in the form of HSK, the company’s native token, which is planned to be listed for trading later this year.
The exchange has allocated millions of HSK for the campaign. According to the release, participants can earn up to 0.3 HSK for every 1,000 USDT traded, while those trading through API can compete for weekly transaction volume rankings, with top prizes reaching up to 300,000 HSK.
For the invitation rebate, participants will receive 100% of the transaction fees generated by their invited users on non-API transactions.
Addressing Market Challenges
HashKey aims to tackle some of the challenges plaguing the futures market, such as companies trading against their customers, by ensuring that users’ funds are stored separately and independently from the platform.
Additionally, the exchange wants to address issues of price manipulation by avoiding counterparty trading with customers.
Ben El-Baz, the managing director of HashKey Global, said in the release that the exchange aims to provide users with a regulated and secure platform to engage in futures trading.
“With regulatory approval and the official launch of futures trading, HashKey Global will provide a sophisticated and seamless trading interface and a secure, regulated asset environment. We aim to deliver a world-class futures trading experience and reshape the market landscape with licensed futures trading,” he said.
Recognition and Achievements
Meanwhile, HashKey Global has been making waves since the launch of the exchange earlier this year in Bermuda.
This week, the company was named the “fastest growing exchange” by Coingecko. HashKey also entered the list of top global exchanges, securing the number 8 spot on Coingecko.
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