Binance is Reportedly Behind New Hong Kong Crypto Exchange Seeking License

Crypto exchange giant Binance seems to have connections with a newly established cryptocurrency trading platform in Hong Kong that has announced its intention to apply for a license in the city, according to a South China Morning Post report. The trading platform, known as HKVAEX, was created in December 2022 and launched its trading services in February. SCMP reported that insiders close to the company, who spoke on the condition of anonymity due to the sensitive nature of the information, suggest that Binance is the driving force behind HKVAEX's efforts to secure a crypto license in Hong Kong. HKVAEX operates as a separate entity under BX Services Limited in Hong Kong.

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