OKLink·HashKey Announce to Advance Regulatory Compliance of Cryptocurrency in Hong Kong

HONG KONG, Sept. 6, 2023 /PRNewswire/ -- OKLink, a subsidiary of OKG Technology Holdings Limited ("OKG Tech," 1499.HK), a leading global provider of Web3 on-chain data and compliance solutions, is pleased to announce its official partnership with HashKey Exchange, the first licensed retail virtual asset exchange in Hong Kong. With this collaboration, OKLink will provide HashKey with a range of services, including on-chain data and on-chain Anti-Money Laundering (Onchain AML) solutions, to meet its exchange's compliance requirements and enhance the security of its cryptocurrency assets.

OKLink, through the development of applications that integrate blockchain technology with big data and artificial intelligence, offers a comprehensive suite of products to the market. These include a blockchain explorer, Onchain AML, and a one-stop investigation and tracing platform known as "Chaintelligence." Furthermore, OKLink covers more than 170 different blockchain networks, aggregates over 1000TB of on-chain data, processes up to 300 billion on-chain data transactions, and boasts over 3.4 billion address tags, nearly 70 million of which have been flagged as potentially high-risk addresses.

The Onchain AML product includes KYT (Know Your Transaction) and KYA (Know Your Address) features. KYT leverages OKLink's extensive database to establish connections between on-chain addresses and real-world entities, helping to monitor risky transactions and identify malicious addresses, triggering alerts to meet the compliance and risk management requirements of Virtual Asset Service Providers (VASPs). KYA, on the other hand, identifies, analyzes, assesses, and categorizes the risk types associated with on-chain addresses, assisting regulatory bodies in digital asset investigations and aiding businesses in preliminary risk assessment, thereby enhancing transparency in digital asset transactions.

HashKey Exchange, as the first licensed retail exchange in Hong Kong, is committed to setting new standards for virtual asset exchanges in terms of compliance, safety, and security. HashKey has received regulatory approval from the Securities and Futures Commission of Hong Kong ("SFC") to operate a virtual asset trading platform under a Type 1 (Dealing in securities) licence and a Type 7 (Providing automated trading services) licence. As HashKey Group's flagship business, HashKey Exchange provides all-in-one trading services for both professional investors (PI) and retail investors.

As the virtual asset market in Hong Kong opens up to retail users, virtual asset trading platforms need to focus on ensuring the security of user assets while strengthening compliance measures to meet regulatory requirements, providing investors with a trusted and secure trading environment. This will not only create more investment opportunities for retail users but also drive the entire industry toward a more sustainable direction. As a global leader in Onchain AML services, OKLink, with its outstanding data analysis capabilities, brings a new perspective to compliance. This collaboration further solidifies OKLink's position as a leader in compliance innovation.

Mr. Jeffery Ren, the Chairman of the Board and CEO of OKG Tech, stated, "We are delighted to establish this strategic partnership with HashKey to contribute to the development of regulatory compliance for virtual assets in Hong Kong. OKLink has always been committed to providing leading data analysis and compliance solutions for virtual asset platforms worldwide. We look forward to jointly promoting the sustainable development of the digital asset industry by providing efficient and secure on-chain services to HashKey. This collaboration not only offers HashKey Exchange a robust compliance solution but also signifies industry recognition of OKLink's capabilities in compliance and data. In the future, OKLink will continue to contribute to the sustainable development of the virtual asset industry."

Mr. Livio Weng, Chief Operating Officer of HashKey Group, stated, "Compliance and security have always been the top priorities HashKey Exchange. We designed and developed our platform with regulatory compliance from the ground up. We believe that OKLink's expertise in data analysis and compliance will provide valuable support for on-chain compliance and anti-money laundering efforts, allowing HashKey Exchange to provide a secure and transparent trading environment for retail investors."

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