HashKey Group, a crypto service provider, has launched a global crypto exchange called HashKey Global in Bermuda.
According to its managing director, Ben El-Baz, the decision was made after Coinbase obtained a license in Bermuda to run its international exchange.
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El-Baz has stated that, following FTX's bankruptcy in 2022, users are more aware of the counterparty risk of exchanges, and HashKey Global aims to fill that gap by combining Binance's user and product experience with Coinbase's regulatory and security aspects.
HashKey Global's ultimate goal is to become the world's largest forex marketplace within the next five years.
El-Baz also mentioned that they intend to surpass the volume of their competitors, such as Coinbase International.