In the race against global giants like Coinbase, Hong Kong's HashKey exchange is gearing up for a showdown by obtaining a new license in Bermuda. This license allows them to offer crypto futures for a range of 20 different cryptocurrencies, challenging strict regulations they face in Hong Kong for similar products.

The Chief Operating Officer of HashKey Group, Weng Xiaoqi, unveiled the acquisition of Bermuda's "comprehensive digital asset investor protection system license." They plan to launch the HashKey Global trading platform today, initially offering over 20 currencies to eligible retail investors. The platform aims to expand its offerings to include futures and other products in the coming months.

Xiaoqi is optimistic that operational data and experience gained from these products will help advance the regulatory framework in Hong Kong. Currently, HashKey serves approximately 170,000 customers in Hong Kong, with plans to tap into a potential fourfold increase in the customer base by establishing the HashKey Global platform. This platform will enable direct trading with stable currencies like USDT and USDC.

In Hong Kong, retail investors are restricted to trading Bitcoin and Ethereum, while HashKey's previous applications to the SFC await approval. With the current asset management scale exceeding HK$2 billion, the launch of the global platform aims to quadruple this figure to HK$8 billion by year-end.

HashKey has set an ambitious goal of surpassing Coinbase within the next five years, outlining diverse strategies including plans for public listing via China, Hong Kong stocks, and Security Token Offerings (STOs). They view compliant exchanges like Binance and Huobi differently, emphasizing their unique approach. Additionally, HashKey intends to leverage the HSK coin for transaction mining and ecosystem engagement.

In conclusion, HashKey Exchange's pursuit of a Bermuda license signals its determination to compete with global players like Coinbase. Through innovative strategies and regulatory maneuvering, HashKey aims to carve out its place in the competitive cryptocurrency landscape.