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HashKey Globals and the TON Foundation have formed a partnership with a focus on Hong Kong for the initial phase.
The crypto market is undergoing a massive evolution, and companies like HashKey Globals are expanding their services and plans. Investors’ confidence in the market is evident in the current bull run.
Recently, HashKey Global launched its global crypto exchange in Bermuda, which has gained the attention of significant industry names like TON.
HashKey Global Brief
HashKey Global presently provides spot trading services for 21 digital assets, including bitcoin (BTC), ether (ETH), Tether’s USDT, and Circle’s USDC. They plan to introduce futures trading product services in the coming weeks.
The company, similar to Coinbase, has chosen Bermuda as its global exchange base, thanks to the nation’s regulatory regime that has proved to be very suitable for them to expand from, after seeing Coinbase’s success in Bermuda.
TON & Hashkey Partner Ship
Telegram initiated the TON blockchain as an internal project in 2018. However, two years later, due to legal action by the SEC, the project was abandoned. Following this, the TON Foundation was formed by the community with Telegram’s backing, to carry on with the development of the project.
HashKey and the Foundation are focusing their partnership on Hong Kong in the first phase but said they will expand to other APAC markets should their initial efforts prove a success, according to an emailed announcement on Friday.
Toncoin, the native token of TON, climbed approximately 1.7% in the hour following the announcement and was down nearly 4% in the last 24 hours. For comparison, the CoinDesk 20 Index (CD20), which shows a weighted measurement of the digital asset market, declined around 1.3% in the same timeframe.
TON Foundation Distributed 300k Toncoins
The Open Network’s TON Foundation distributed 300,000 Toncoin to active meme coin traders on the DeDust and Ston.fi platforms, valued at roughly $2.19 Million. The airdrop targeted traders who engaged in transactions between March 4 and April 10. Participants needed to trade specific meme coins and accumulate points to qualify for the reward.
The distribution gave 90 free tokens per eligible wallet, excluding Sybil addresses to ensure fairness. Toncoin reached a new all-time high before the announcement, surging more than 14% to $7.65 per token. However, after the news, TON’s price fell by 5% to $7.22.
Summary
HashKey Global and the TON Foundation are partnering in Hong Kong, with plans to expand to other APAC markets. HashKey offers spot trading for 21 digital assets and will introduce futures trading soon. The TON Foundation distributed 300,000 Toncoin to active meme coin traders on DeDust and Ston.fi platforms, valued at $2.19 Million.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
