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Gate.io's Hippo Financial Services Obtains Hong Kong Crypto Custody License

The parent company is expanding globally.

Updated Mar 6, 2023, 6:11 p.m. Published Aug 15, 2022, 8:58 a.m.

Gate.io's Hippo Financial Services has been granted a license to offer virtual asset custodial services in Hong Kong, according to a press release on Monday.

Gate.io has a cryptocurrency exchange, blockchain, decentralized finance platform and more and is looking to expand globally. It started operating in Malta in March after its technology unit received a licenses as a virtual financial assets service provider, allowing it to operate an exchange and offer custodian services in the country.

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"Establishing a custody business in Hong Kong is a global strategic milestone of Gate.io 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 provides additional confidence for investors that place assets in Hippo FS's custody," Gate.io CEO Han Lin said in the release.

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Gate.io's exchange is now based in the Cayman Islands. It left China after that country cracked down on crypto.


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