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HashKey partners with imToken to advance retail crypto adoption

  • HashKey and imToken announced a strategic partnership towards enhancing retail crypto adoption.
  • imToken becomes HashKey’s official non-custodial wallet provider.

Hong Kong-licensed crypto platform HashKey Exchange and non-custodial crypto wallet provider imToken have partnered to promote crypto adoption across the retail market.

In a press release published on Wednesday, HashKey Exchange said the companies will look to leverage both Web2 and Web3 strengths to offer secure asset management for customers. The companies are looking to integrate non-custodial wallet services with compliant fiat deposits and withdrawals. 

Accordingly, HashKey will provide a trusted and compliant trading platform for imToken users. Meanwhile, mToken is now the exchange’s official non-custodial wallet partner, providing self-managed crypto services to HashKey Exchange users.

“We are excited to partner with imToken, a renowned name in the decentralised wallet space,” said Livio Weng, COO of HashKey Group. “By combining HashKey Exchange’s regulated trading platform with imToken’s secure and decentralised capabilities, we aim to bring virtual asset management experience to the next level.”

Creating a trusted fiat gateway

According to HashKey, collaboration with imToken will catalyse growth across the ecosystem by removing the barriers between fiat and digital assets and between custodial and non-custodial services. 

Building on strengths of a trustless platform and HashKey’s compliance is key to this goal, which should see users benefit from a secure fiat gateway, the companies said in the press release.

imToken CEO and founder Ben He, commented that the partnership with HashKey Exchange is a significant step in the quest to create a seamless and secure crypto ecosystem.

“Together, we empower users to take control of their assets while ensuring they have access to a trusted fiat gateway for a holistic Web3 experience,” He added.

HashKey officially launched its trading platform for retail users on August 28, offering support for Bitcoin, Ethereum and USDT trading pairs. The platform also offers direct bank deposits for USD and HKD.

The launch followed the exchange’s landmark approval and licensing by Hong Kong’s Securities and Futures Commission (SFC) as a virtual asset trading provider for retail. The SFC recently issued a warning to crypto exchanges purpoting to have secured approval to offer crypto trading to retailers.

The post HashKey partners with imToken to advance retail crypto adoption appeared first on CoinJournal.

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Bitcoin jumps on Grayscale news, but what happens with the USD is more important

  • Grayscale won a landmark ruling against US regulators
  • The SEC was wrong to reject Grayscale’s application to transform the Bitcoin trust into an ETF
  • Bitcoin’s price jumped, but it is more relevant what happens to the US dollar next

Grayscale is a leading crypto asset manager. It enables traders and investors to gain exposure to the cryptocurrency market through a Bitcoin trust.

The trust now has over $17 billion in assets under management, and the eligible shares of Grayscale Bitcoin Trust are quoted on OTCQX under the symbol GBTC.

Yesterday, Grayscale won a landmark decision from a US court that ruled against the Securities and Exchange Commission over Grayscale’s Bitcoin ETF.

Grayscale wants to convert the Grayscale Bitcoin Trust into an ETF (Exchange Traded Fund), but the SEC did not allow it. However, the federal court ruled that the SEC was wrong.

As a result, Bitcoin price jumped above $27k. While Grayscale’s news is positive for the industry, for Bitcoin, it is more relevant what happens to the US dollar.

Bitcoin chart by TradingView

Bitcoin bounces from support as the US dollar weakens

At the same time, when the US federal court ruled in favor of Grayscale, news came out that the labor market in the United States softened. Major stock market indices advanced as the dollar lost ground.

This is a trend to watch in the future.

Because the Fed is convinced that inflation has peaked, the focus sits now on the labor market. If jobs data this week confirms the soft path, expect Bitcoin to gain some more.

From a technical standpoint, Bitcoin bounced from horizontal support given by the neckline of an inversed head and shoulders pattern. The neckline is often retested, and now the focus shifts (again) to the measured move that points to $35k and beyond.

The post Bitcoin jumps on Grayscale news, but what happens with the USD is more important appeared first on CoinJournal.