BitMart, a cryptocurrency exchange, has announced a partnership with the Hong Kong Virtual Assets Consortium (HKVAC) to foster collaboration and advance the cryptocurrency industry.
According to BitMart’s press release, the primary focus of this partnership is to promote security, trustworthiness, stability, and sustainability in the virtual asset domain. By joining forces, BitMart and HKVAC aim to drive the advancement and innovation of virtual assets not only in Asia but also on a global scale.
HKVAC was established by industry stakeholders and rating agencies in Hong Kong to promote industry-led security risk management and support Hong Kong’s role as an international financial centre. The consortium publishes credit ratings based on primary data from virtual asset exchanges and public blockchains. It also provides reliable reference data that benefit professional investors and the general public.
Sheldon Xia, the founder and CEO of BitMart, views the partnership with HKVAC as a significant milestone for the company. Xia expressed the belief that this collaboration represents a significant step forward for BitMart as it underscores their recognition of Hong Kong’s immense potential in the blockchain and virtual asset industries.
Xia stated:
“We are excited to explore the global virtual asset market with HKVAC and provide users with a trading experience that is more convenient, and efficient.”
Albert Lo, the spokesperson for HKVAC, expressed satisfaction with the alliance the consortium established with BitMart. Lo emphasized that as a representative of virtual asset stakeholders and rating organizations in Hong Kong, their utmost dedication lies in fostering innovation and progress in the realms of blockchain and virtual asset technologies.
According to Lo, the partnership with BitMart brings forth invaluable industry resources and data and enables both organizations to propel the advancement of the virtual asset industry while bolstering Hong Kong’s competitive position in the global market for virtual assets.
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