HashKey wins JPMorgan approval for client funds account

HashKey Exchange said on Aug. 3 that JPMorgan Chase approved its application to open a client funds account, giving the Hong Kong licensed crypto platform another banking route for customer money segregation and U.S. dollar settlement. Summary HashKey received JPMorgan approval to open a segregated client funds account supporting dollar settlement services. HashKey says it became Asia’s first licensed digital asset exchange approved for this JPMorgan account. DBS activated a separate HashKey customer funds account on June 30 for fiat settlement services. Hong Kong rules require foreign currency client money to remain segregated in the same currency. HashKey has not disclosed when the JPMorgan account will become operational for customer transaction services. Parent company HashKey Holdings said the approval would connect the exchange more closely with international banking infrastructure. The announcement did not disclose the account’s launch date, expected balances, supported payment routes or commercial terms. HashKey JPMorgan account adds a new dollar channel HashKey said the account would strengthen the stability and transparency of its U.S. dollar funding channels. It also exp...