Is HKVAEX a Binance Affiliate or a Standalone Hong Kong Exchange?

• Binance has reportedly established a new cryptocurrency trading platform named HKVAEX in Hong Kong.
• HKVAEX has announced its intention to apply for a compliance license in Hong Kong.
• While some insiders claim that HKVAEX is set up by Binance, Binance representatives deny any connection.

Crypto exchange Binance has established a new crypto trading platform in Hong Kong, HKVAEX. The exchange has announced its intention to apply for a compliance license in Hong Kong, according to the South China Morning Post (SCMP).

Colin Wu, a Chinese reporter, shared the news and added that in July, HKVAEX CEO Stanley Fung said the exchange was preparing to submit a compliance license application.

SCMP: Binance establishes HKVAEX to apply for Hong Kong cryptocurrency compliance license. HKVAEX was established in December 2022, and its CEO Stanley Fung said in July that it was preparing to submit an application. HKVAEX shares resources and code with Binance.…

— Wu Blockchain (@WuBlockchain) October 25, 2023

HKVAEX was established in December 2022 as a separate entity from Binance. The exchange is under a company named BX Services Limited. Three close company insiders w…

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