OKX Hong Kong Amasses Over 10,000 New User Registrations Within a Month of Launching Enhanced App

Hong Kong SAR, 13 July 2023 - One of the largest crypto exchanges by trading volume and a leading Web3 technology company OKX, has recorded more than 10,000 new Hong Kong user registrations within a month of launching its enhanced app for local users earlier in May. It is the first exchange in Hong Kong to announce this milestone since the city's new virtual asset service providers (VASPs) regime took effect on 1 June 2023.

For more than 18 months, OKX has been investing in talent acquisition, innovation, technology, compliance and system security in preparation for its license application under Hong Kong's new VASPs regime. The 10,000 new local users milestone is a testament to OKX Hong Kong's success and commitment to ensuring that its platform is compliant with regulatory requirements while meeting customers' needs for innovative products and access to Web3.

OKX Global Chief Commercial Officer Lennix Lai said: "We're very encouraged to see such a positive response to OKX Hong Kong. Our sign-up metrics demonstrate strong local interest and immense market potential in a regulated environment. The Hong Kong market is very sophisticated and discerning when it comes to choosing digital asset platforms, and adherence to regulatory requirements plays a crucial role in winning trust from our users and driving future growth of the crypto market. Going forward, we hope to launch more exciting products and experiences for Hong Kong users in accordance with regulatory requirements."

OKX announced the establishment of its Hong Kong entity (OKX Hong Kong) in March 2023 for the purpose of applying for the VASP licence and operating as a virtual asset trading platform in Hong Kong. Currently, OKX's enhanced app allows Hong Kong users to buy, sell and hold 16 major cryptocurrencies while benefiting from the highest standards of security, trading technology and risk controls comparable to those of traditional exchanges in the market.

To celebrate this milestone, OKX Hong Kong will host an event together with the Manchester City Official Supporters Club - Hong Kong Branch on Saturday, 22 July 2023 in its capacity as the Official Sleeve Partner of the club. The event will include an exhibition of Manchester City-themed collectibles, talks from local football legends Siu Ki Chan and Wai Ho Chan, as well as interactive games. For more details, please follow OKX on social media.

DISCLAIMER This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.