OKX Scoops 10,000 Users in One Month after Hong Kong Legalized Crypto

<p>After Hong
Kong introduced the new virtual asset service providers (VASPs) regime, many
companies have decided to enter the local market in a bid to exploit its
potential. OKX was one of them, introducing a version of the mobile app aimed
at customers from China’s special administrative region. Now, the crypto
<a href="https://www.financemagnates.com/terms/e/exchange/">exchange</a> has announced over 10,000 new Hong Kong user registrations in just a
month since launching its enhanced app.</p><p>OKX Builds User Base in
Hong Kong</p><p>Over the
past 18 months, OKX has been investing in talent acquisition and infrastructure
in anticipation of its license application under Hong Kong's VASPs regime. This
massive influx of new users shows that the retail crypto industry has huge
potential, which has been unlocked by favorable regulatory changes. Hong Kong
openly admits that it wants to become a new hub for digital assets.</p><p>OKX
established its Hong Kong entity (OKX Hong Kong) <a href="https://www.financemagnates.com/cryptocurrency/okx-becomes-another-crypto-exchange-to-start-hk-branch/" target="_blank" rel="follow">in March 2023</a> with the aim of
acquiring the VASP license and operating as a virtual asset trading platform in
the city. Presently, the enhanced OKX app enables Hong Kong users to buy, sell,
and hold 16 major digital assets.</p><blockquote><p lang="en" dir="ltr">