Gate Group Confirmed Applying for New Crypto License in Hong Kong

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Feb 22, 2023, 07:15 ET

MAJURO, Marshall Islands, Feb. 22, 2023 /PRNewswire/ -- Gate Group, the world-leading exchange, is committed to expanding its presence in the Hong Kong market by applying for a new crypto license which will allow them to launch Gate HK, a new platform designed for the Hong Kong market. Following on from Gate Group's Hong Kong-based company, Hippo Financial Services Limited (Hippo FS), obtaining its Trust or Company Service Provider (TCSP) Licence last August.

Last August, Hippo FS obtained the TCSP license, permitting them to provide virtual asset custodial services to global users. Additionally, Hippo FS has dedicated resources towards creating teams that will manage local operations and ensure the security of its services infrastructure and client's assets.

Regarding continued developments, Dr. Han Lin, Founder of Gate Group, recently tweeted, "Very excited about Hong Kong. Having obtained the TCSP License in HK, Gate Group is also preparing for a crypto license and fine-tuning Gate HK, a new platform tailored to serve HK's growing crypto market, stay tuned."

The impending launch of Gate HK following the group's new cryptocurrency license application and the acquisition of the TCSP license are significant steps toward the growth and expansion of blockchain and virtual asset adoption. These moves not only deepen the group's relationship with global crypto investors but also provide added confidence to investors who entrust Gate Group.

"Hong Kong is a global strategic market for Gate Group, not only because Hong Kong is the hub for many financial institutions and investors, but more importantly, the industry-leading regulatory regime of Hong Kong helps boost confidence for the whole industry and provides additional stability for investors." Dr. Lin Han added.

About Gate Group

Established in 2013, Gate Group is one of the pioneers in the crypto industry. It has established a comprehensive ecosystem, which includes a cryptocurrency exchange, public blockchain, decentralized finance, research and analysis, venture capital investing, wallet services, startup incubator labs and more.

Gate.io is a leading global cryptocurrency exchange under Gate Group. Gate.io offers diverse trading services with 100% user-verifiable Proof of Reserves, and it has grown to serve over 12 million users around the world. It has been consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko and has received a rating of 4.8 by Forbes Advisor, topping the list of Best Crypto Exchanges for 2023.

SOURCE Gate.io