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NewFire Tech has adopted the requirements for the five categories of "Recognized Exchanges" and is conducting OTC trading of virtual assets for professional investors in Hong Kong
BlockBeats News, October 30th, according to Techub News, New Margin Technology Holdings Limited, a Hong Kong-listed company, has conducted partial over-the-counter (OTC) virtual asset trading business in Hong Kong for professional investors in accordance with the "Stablecoin Regulations," providing OTC trading services for USDT, USDC, and other currencies to qualified professional investors. According to Article 9 of the "Stablecoin Regulations," only "recognized providers" are currently allowed to offer designated stablecoins, including institutions holding a Type 1 license from the Hong Kong Securities and Futures Commission. Public information shows that New Margin Technology's subsidiary, New Margin Asset Management (Hong Kong) Limited, already holds Type 1, 4, and 9 licenses.
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