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.

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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