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Deutsche Bank has supported its client HashKey Exchange in launching a fiat deposit channel, boosting the user experience on the exchange's platform.
HashKey Exchange, Hong Kong's largest licensed virtual asset exchange, needed a provider to facilitate operational and customer flows, including FX requirements.
As a result, Deutsche Bank was chosen for its experience in servicing new economy companies and it provided HashKey Exchange with operational and client-money accounts.
In addition, the bank will help with virtual accounts to improve reconciliation processes.
Furthermore, Deutsche Bank will provide fiat currency deposit services to HashKey Exchange, effective immediately. Clients of HashKey Exchange can now directly deposit Hong Kong dollars or US dollars into virtual accounts managed by Deutsche Bank, offering an alternative to existing deposit options on HashKey’s Exchange.
Ole Matthiessen, head of corporate bank for Asia Pacific and Middle East & Africa and global head of cash management at Deutsche Bank, said: “We are delighted to help HashKey Exchange expand its suite of solutions and enhance the experience of its customers. Our expertise with serving clients in the fintech, platform and digital economy space positions us strongly to partner with HashKey Exchange to take its operations to the next level and grow for the long-term.”
Hai Yang Ru, chief risk officer of HashKey Group, added: "Our collaboration with Deutsche Bank marks a significant step in strengthening HashKey Exchange’s banking relationships. By integrating Deutsche Bank's API-based virtual account solution, we are enhancing the flexibility and convenience of fiat deposit services for our users. HashKey Exchange remains committed to expanding its banking partnerships, improving user experience, and ensuring the highest standards of security for user funds."
"Deutsche Bank and HashKey Exchange launch fiat deposit channel" was originally created and published by Private Banker International, a GlobalData owned brand.
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