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The NSAV crypto exchange will operate from Hong Kong as the management is confident of getting a share of the larger Chinese market.
On Monday, August 9, cryptocurrency, blockchain and digital asset technology company Net Savings Link announced the launch of its wholly-owned crypto exchange under the NSAV brand name.
Thus, NSAV will be the second public-listed US company to have the crypto exchange. The first is Coinbase which made its appearance on Nasdaq earlier in April 2021. The NSAV exchange will be fully functional in the near time. Besides, it will have to fight for its share in the rapidly emerging $2 trillion global crypto market.
Amid the heightened regulatory activity, NSAV is taking all precautionary measures. Currently, NSAV is in the process of strengthening its compliance systems and KYC protocol. Learning from the experience of other players, NSAV is ensuring that it doesn’t fall victim to regulatory and legal hurdles.
The company is pretty confident of its skillset and expertise to become fully compliant in all jurisdictions where it conducts its business. Thus, it’s not rushing through for becoming fully operational. The management believes that this delay is in the best interest of all NSAV shareholders.
NSAV to Launch Its Own Governance Crypto Token
NSAV shall be following Uniswap for its entry into the crypto space. On Monday, NSAV also announced the plan to launch its own governance token. The management believes that it will be of huge benefit to the NSAV crypto exchange.
To execute this governance token project, NSAV has joined hands with a leading global investment banking firm Silverbear Capital. Silverbear will work in coordination with NSAV to ensure that it continues to operate by the following compliance. This will help it to handle regulatory matters going ahead.
The NSAV Exchange will start operating in Hong Kong. The decision comes just at a time when Chinese regulators have been initiating major crackdowns on local crypto firms. However, the NSVA management is confident that the company can capture a share of the Chinese market.
Mr. Dato’ Sri Desmond Lim, Senior Vice President of Cryptocurrency Operations for NSAV and Silverbear Capital partner stated:
“This is an exciting milestone for NSAV. I am thrilled to see the company introducing the planned launch of an NSAV governance token, which will act as a native token to our exchange as well. I believe the decentralized direction is a very good strategy and will bring more democracy to our ecosystem”.
Other news from the crypto space can be found here.