“To incentivize more users to provide liquidity, we will officially launch the market maker project starting from 2023/12/28,” the exchange wrote.
HashKey, one of the first crypto exchanges to be licensed in Hong Kong, will soon allow individual and enterprise market makers to provide liquidity on the exchange.
According to the Dec. 5 announcement, individuals and entities can apply to be market makers on HashKey, provided that they trade at least $5 million worth of cryptocurrencies per month on the exchange.
Depending on monthly rankings or trading volume, users and firms will receive between 0.005% and 0.015% of transaction value as commission.
Hong Kong-regulated exchanges have expanded service offerings and partnerships since the first licenses were granted in August. OSL, another Hong Kong licensed exchange, signed a partnership with Interactive Brokers on Nov. 28 to enable Hong Kong clients to purchase Bitcoin (BTC) and Ether (ETH) using Interactive Brokers’ investment accounts. 30, the firm onboarded Victory Securities, the first regulated broker in Hong Kong to obtain approval for virtual asset dealings, for crypto trading services on OSL’s platform.
Meanwhile, HashKey has been expanding its altcoin offerings, though they remain available only to accredited investors meeting a $1-million portfolio requirement.