Oracle Data Meets On-Chain Credit Ratings

RedStone has built a reputation for delivering fast, reliable market data directly to blockchain networks. Credora, on the other hand, specializes in credit risk assessment across decentralized finance (DeFi). By merging these two capabilities, the new entity aims to provide a transparent, oracle-powered risk rating system for assets and yield strategies, ultimately making the DeFi landscape more secure and easier to navigate.

RedStone highlighted that rated DeFi strategies, such as Morpho Vaults, have grown 25% faster than unrated ones, a sign that users place significant trust in ratings when choosing where to allocate their capital.

RedStone “Turning Data into Actionable Intelligence”

Marcin Kazmierczak, co-founder of RedStone, described the move as a natural progression for the company:

“Ratings are the next step in our journey. We already collect and deliver data on-chain, and by adding transparent ratings, we transform that information into actionable insights. As DeFi yield strategies grow increasingly complex, investors need clarity that goes beyond headline APYs. Ratings deliver exactly that.”

He further emphasized that the acquisition is a foundational step in preparing DeFi for institutional-scale adoption, ensuring safer strategies for both retail and professional investors.

Credora’s Founders Join as Strategic Advisors

As part of the integration, Credora’s co-founders, Darshan Vaidya and Matt Ficke, will join RedStone as strategic advisors. Their role will focus on guiding the adoption of the new rating framework and ensuring a smooth transition for existing users and partners.

Strengthening Presence in RWA and Tokenization

Beyond DeFi yield strategies, RedStone also sees this move as pivotal in the rapidly growing real-world assets (RWA) and tokenization sector. According to Kazmierczak, risks tied to tokenized private credit or tokenized stocks are often difficult to assess. Ratings, therefore, will act as a crucial tool for both investors and institutions exploring these emerging markets.

“With this acquisition, we aim to guide investors and DeFi participants through the complexity of tokenization. Our ratings will serve as a supportive instrument for banks and institutional players entering the crypto economy,” he explained.

A New Standard for DeFi Risk Assessment

Industry observers note that RedStone’s acquisition of Credora could mark the beginning of a new standard in DeFi risk transparency. Much like how S&P and Moody’s shaped traditional finance, “Credora by RedStone” has the potential to become a trusted benchmark for decentralized markets.

As DeFi continues to attract global attention, this step brings the ecosystem closer to bridging the gap between crypto innovation and institutional trust.

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HashKey, which became the second exchange to receive a crypto license from the SFC in November 2022, reported that the fraudulent websites made slight alterations to official links to mislead users. The company emphasized in a statement that it has no connection to these fraudulent websites.

SFC Continues to Track Crypto Scams

Since November 2021, Hong Kong SFC has been monitoring fraudulent crypto platforms, fake websites, and unlicensed exchanges. As of January 29, 2025, at least 91 suspicious trading platforms and links have been identified.

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One of the biggest fraud cases in Hong Kong, the JPEX scandal, involved a 1.3 billion Hong Kong dollar (approximately 166 million USD) fraud affecting 2,000 investors. Despite SFC publicly warning that JPEX was operating without a license, the platform falsely claimed otherwise. This incident has been compared to an “FTX moment” for Hong Kong.

Hong Kong Accelerates Crypto Regulations

Until the last quarter of 2024, HashKey and OSL were the only two officially licensed crypto exchanges under Hong Kong SFC. However, as of 2024, the regulator has ramped up its licensing approvals, adding YAX and PantherTrade to its list on January 27, bringing the total number of licensed exchanges to nine. These approvals mark the first batch of crypto licenses in 2025.

Hong Kong is positioning itself as a regional digital asset hub, competing with Singapore. While Singapore has granted at least 30 full licenses to crypto firms, Hong Kong has taken the lead in approving spot Bitcoin BTC and Ethereum ETH ETFs. Singapore Exchange CEO Loh Boon Chye recently stated that the Singaporean market is not yet ready for such financial instruments.

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• Supported Cryptocurrencies: Only Bitcoin (BTC) and Ethereum (ETH) are available for trading.
• Requirements: Users must hold a ZA Bank account and complete a risk assessment to access the service.
• Partnership: ZA Bank has collaborated with HashKey Exchange to ensure regulatory compliance and streamline operations.

Calvin Ng, Alternate CEO of ZA Bank:
“The rise of cryptocurrencies provides investors with diverse asset allocation opportunities.”

Livio Weng, CEO of HashKey Exchange:
“We will continue to work closely with ZA Bank to develop the Web3 ecosystem and offer diversified financial services.”

Regulatory Landscape in Hong Kong

• Retail crypto trading became legal in Hong Kong in August 2023.
• Three exchanges currently hold licenses from the Securities and Futures Commission (SFC):
  • OSL (2020)
  • HashKey (2022)
  • Hong Kong Virtual Asset Exchange (HKVAX) (October 2023)

The SFC expects to grant additional licenses by the end of the year. ZA Bank, established in 2019, is Hong Kong’s first licensed virtual bank, serving over 800,000 users.

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Since there were no legal problems, HashKey CEO Livio Weng opted to include Avalanche and Chainlink instead of many other cryptocurrencies with more market value. Weng thinks that this action represents a major turning point in Hong Kong’s expanding Web3 industry, which acquired impetus after U.S. political events especially when former President Trump voiced support of Web3 developments.

Native of the Avalanche network, AVAX ranks 13th among all the cryptocurrencies with a market value of $9.3 billion. Linked to the Chainlink oracle network, LINK comes in at number sixteen with a $6.9 billion market value. Now freely accessible on Hashkey versus the US currency for retail trade.

After the licencing enhancement in Hashkey and OSL, which is the second fully licenced market in Hong Kong, the retail identified trading business began in August, 2023. Prior to this, many exchanges were under “deemed to be licensed”; however, the Hong Kong Securities and Futures Commission (SFC) asked the ones that did not have full licenses or the necessary status to cease operations by June, 1.

Weng also said that other cryptocurrencies might be let for retail trading on Hashkey in the next weeks, thus increasing the investing possibilities for Hong Kong’s retail players.

Given the changing worldwide scene over bitcoin ownership, this law change signals a major turning point in Hong Kong’s aspirations to establish herself as a center for digital assets.

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HashKey Group, one of Asia’s leading digital asset financial service providers, has partnered with Web3 mini-game Catizen, positioning Catizen as the first Web3 partner to strengthen the future of GameFi and global digital entertainment architecture.

HashKey Partners with TON Mini-Game Catizen

HashKey Group’s engagement with TON Foundation in April is of great significance for this collaboration. This partnership with TON Foundation aims to develop the TON ecosystem, which Catizen also benefits from. Since its establishment, Catizen has attracted over 29 million users worldwide.

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The main goal of this partnership is to enhance gaming services for global audiences in the Web3 space. These advanced services will be offered through licensed exchange HashKey Global, marking an important step towards developing a secure and stable channel for digital assets.

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HSK Token to Be Integrated Across HashKey’s Ecosystem

“HSK is scheduled to launch a community airdrop under HashKey’s core businesses in late June, encouraging users to help to build communities,” the firm said. Designed with reference to the ERC-20 criteria, the HSK token has one billion thousand units in total. Especially on its Layer 2 solution, HashKey Chain, HashKey aims to employ HSK to reward ecosystem participants, thereby enabling and motivating on-chain user and asset activity.

Token Allocation and Burning Mechanism Explained

With around 65% set for ecosystem development, 30% for personnel, and 5% set in a fund, HashKey broke out the distribution of the HSK token. The corporation also announced plans of a token burning system in which the corporation would be authorized to purchase up to 20% of the net income generated by corporate partners and extinguish the HSK thus purchased from the circulating supply. This is a strategy that is employed with the intention of managing the issuance of the token and may help perhaps enhance the worth of the token in the future.

HashKey’s Expansion and Recent Financial Milestones

Core activities of HashKey Group consist of HashKey Capital, HashKey Cloud, HashKey Tokenisation, and HashKey NFT. The company also runs HashKey Global, a worldwide exchange started in April, and HashKey Exchange, a licenced crypto exchange in Hong Kong. These few activities show HashKey’s dedication to create a whole ecosystem for cryptocurrencies.

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Announcing a major financial milestone in January, HashKey Group raised around $100 million in Series A funding at a pre-money value of over $1.2 billion. This money is meant to support HashKey’s attempts at growth and improve its service range.

The HSK token listing in the near future along with the HSK token airdrop related to this community mark HashKey’s intentional move to bring its audience and expand its circle. The firm is prepared to be able to incorporate HSK into its line up of products when it is ready for launch; thus making the users group more connected and motivated.

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Staking discussions are ongoing in Hong Kong, which approved spot Bitcoin and Ethereum ETFs after the US.

While there is speculation about whether Hong Kong regulators will allow ETH staking for spot Ethereum ETF issuers, Animoca Brands co-founder Yat Siu has said that Hong Kong could allow staking for spot ETH ETFs this year.

Speaking to The Block, Yat Siu also said that Hong Kong ETF issuer HashKey has prepared a draft proposal to add ETH staking to ETFs.

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Yat Siu’s statements:

“Discussions are currently underway to add a staking feature to spot Ethereum ETFs in Hong Kong. I believe that ETH staking is inevitable to be approved in Asia before the US, and that staking will be approved before the US. I think this will happen within 2024. However, if there is not much movement on staking this year, no matter how fast it is, I can say that the US election result will be decisive in determining which region approves staking first.”

Statements of HashKey CEO Livio Weng:

“We have prepared a staking plan designed to earn rewards without increasing risk in ETH, and we are moving forward in a controlled manner. ETH ETF staking is considered the biggest missing piece of the puzzle.”

The post Spot Ethereum ETFs Staking: When Will It Arrive? appeared first on Coin Engineer.

Positive developments continue in Hong Kong, which is taking important steps towards becoming a cryptocurrency hub.

In this context, HashKey, the first licensed cryptocurrency exchange in Hong Kong, is making altcoin listings for professional investors, and the latest listing is for Toncoin (TON).

Haskey announced that TON trading will start on May 09 and made the following statement:

“We are excited to announce that Toncoin will be listed on HashKey Exchange, a licensed virtual asset exchange in Hong Kong.

The listing information and schedule for TON are as follows:

TON deposit and withdrawal transactions are currently open.

TON trading is scheduled to open on May 09, 2024 at 16:00 (UTC+8).

The listed trading pair will be TON/USD, and this trading pair will only be available to professional investors.”

HasKey has listed many altcoins before. In this context, the exchange announced that it had listed altcoins such as Chainlink (LINK), Aave (AAVE), Cosmos (ATOM), Lido DAO (LDO), Maker (MKR), Polkadot (DOT), Litecoin (LTC) and Compound (COMP) in previous months.

Currently, BTC/USD, ETH/USD, USDT/USD, AVAX/USD, UNI/USD, LINK/USD, LDO/USD, ATOM/USD, AAVE/USD, MKR/USD, DOT/USD, COMP/USD, RNDR/USD, DYDX/USD, LTC/USD, OP/USD pairs are listed.

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These authorized organizations are also required to segregate customer assets from corporate assets and to develop containment and disaster recovery plans to reduce the risk of loss of customer digital assets due to theft, fraud, negligence, or other unfair actions, as stated in the HKMA’s guidelines.

Other requirements from the actual central bank of Hong Kong include a comprehensive explanation of the risks associated with crypto custody regulations and compliance with anti-money laundering and terrorist financing protocols. These authorized institutions or the related locally established authorized institutions (including subsidiaries already engaged in such activities) must inform the HKMA and confirm compliance with the standards stated in the Appendix within six months from the date of the circular issuance, the “HKMA specified.

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This guide follows Hong Kong’s efforts to reclaim its position as the crypto hub of Asia. Since June 2023, the region has officially started the licensing regime for virtual asset trading platforms and granted permission to licensed exchanges to provide retail trading services. Hong Kong has granted licenses to two platforms, namely HashKey and OSL.

The post Hong Kong and Its New Crypto Move! appeared first on Coin Engineer.

HashKey announced the forthcoming MKR trading, set to start on November 24th, showing that it offers USD trading pairs for cryptocurrency such as Bitcoin (BTC), Ethereum (ETH), USDT and Avalanche (AVAX), as well as LINK, Aave (AAVE), Cosmos (ATOM), Lido DAO (LDO)

According to HashKey’s announcement, “We are excited that Maker’s (MKR) will be listed on the licensed virtual asset exchange HashKey Exchange in Hong Kong. MKR deposit and withdrawal operations are already open and MKR trading will start at 16:00 (UTC+8) on November 24, 2023. The listed trading pair will be MKR/USD and can only be used by professional investors.”

HashKey continues to diversify the cryptocurrency market.

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