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Alchemy Pay Announces Hong Kong License Upgrade for Virtual Asset Trading Services

According to Alchemy Pay’s official statement, HTF Securities received Hong Kong SFC approval to upgrade its Type 1 license for virtual asset trading, while related Type 4 and Type 9 licensing work continues.

Summary

According to Alchemy Pay’s official announcement, HTF Securities Limited received approval from the Hong Kong Securities and Futures Commission to upgrade its Type 1 license to cover virtual asset trading services for both professional and retail investors. The company said the firms had previously completed a Type 4 virtual asset upgrade and are continuing a Type 9 upgrade application. Alchemy Pay also stated that Alchemy Chain’s testnet launched in March and has exceeded 150,000 test addresses.

Terms & Concepts
  • Virtual asset trading: The regulated buying and selling of digital assets such as cryptocurrencies through approved financial service channels.
  • Type 1 license: A Hong Kong SFC license for dealing in securities; here, it was upgraded to include virtual asset trading services.
  • Type 9 license: A Hong Kong SFC license related to asset management activities; Alchemy Pay said the related upgrade application is still in progress.