People familiar with the matter revealed that Hong Kong cryptocurrency trading platform HKVAEX plans to apply for a license in Hong Kong. People familiar with the matter said that HKVAEX was established by Binance to obtain a crypto business license in Hong Kong. The website of the HKVAEX trading platform shows that it is using Binance servers to obtain content. There are similarities in the shared code between the two companies, and the terms of use are almost the same. The same template, suggesting that the two companies may also share legal resources.
In an email response to questions about its relationship with Binance, HKVAEX said, “HKVAEX is an independent virtual asset trading platform headquartered in Hong Kong, operated by a technical team and experienced professionals from the financial services industry. We are preparing to apply for the China Securities Regulatory Commission’s virtual asset trading platform license.”
In response, a Binance spokesperson stated that HKVAEX is not a company under the Binance Group.