OKX and HashKey Group eye partnership to advertise crypto innovation in Hong Kong

• OKX and Web3 expertise firm HashKey Group are eyeing a strategic alliance focused at selling digital asset innovation and adoption in Hong Kong.
• Elsewhere, the OKB token plummeted on Tuesday, dipping greater than 25% to $39.

Crypto trade OKX and Web3 expertise agency HashKey Group, wish to accomplice to advertise digital asset innovation and adoption in Hong Kong.

The businesses stated in a press launch on Tuesday that the partnership will deal with varied crypto associated packages, together with blockchain infrastructure, product improvement and training initiatives round digital asset funding. 

OKX and HashKey Group’s efforts will goal initiatives that adjust to the Hong Kong regulatory framework, in keeping with the announcement.

Notably, OKX and HashKey Group will look to faucet into their respective firm’s strengths and sources to drive development throughout Hong Kong, one of many quickest rising crypto hubs on the earth. 

At present’s information comes days after OKX revealed it had secured a VASP license from Dubai’s market regulator VARA.

What is occurring with the OKB token?

On Tuesday, the worth of OKB, the native token of the OKX crypto trade, nosedived from above $52 to hit lows of $39. The early morning flash crash pushed the OKB market valuation down by greater than $700 million.

Whereas the OKX token has recovered a few of the losses, it stays under $50. On the time of writing, it’s buying and selling close to $45 and susceptible to additional declines amid the broader crypto market bleeding.

Concerning the flash crash, OKX CEO Star Xu stated in an earlier publish on X that the trade was investigating the crash. He has promised to offer an replace to the crypto group.