HashKey Global, the digital asset trading platform, has received regulatory approval to officially launch futures trading.

The platform is operated by HashKey Bermuda Ltd under a Type F licence granted by the Bermuda Monetary Authority.

In the initial phase, HashKey said, the platform will support Bitcoin/Tether stable coin and Ethereum/Tether stable coin trading pairs with up to ten times leverage.

To celebrate the launch, HashKey Global will host a limited-time futures trading campaign and a "100 per cent invitation rebate on futures" event.

It said participants can earn HSK rewards by engaging in futures trading or by inviting friends to trade.

HashKey Global said it aims to provide a secure and user-friendly trading experience, setting a new standard in the "licensed futures" market.

A company spokesman said: “As a mature type of derivatives trading, futures trading has a huge demand in the crypto market. However, due to the lack of effective regulation, there are still widespread issues in the market such as platforms trading against their customers and abusive trading causing significant losses for consumers. These practices have long been criticised by the global crypto community.

“HashKey Global is regulated by the BMA, ensuring that customer assets and data are stored separately and independently from HashKey Global's operations.

“The platform does not engage in counterparty trading with customers, and from both a product design and regulatory standpoint, it reduces the risk of malicious price manipulation and customer losses. This ensures that customer assets are protected, providing a mature, secure and regulated environment for contract trading.”

Ben El-Baz, managing director of HashKey Global, said: "In recent years, the crypto industry has frequently experienced significant disruptions in the derivatives market. The crypto industry has long awaited a licensed exchange to provide futures trading.

“With regulatory approval and the official launch of futures trading, HashKey Global will provide a sophisticated and seamless trading interface and a secure, regulated asset environment.

“We aim to deliver a world-class futures trading experience and reshape the market landscape with 'licensed futures trading'."