Notice - Termination of services to Hong kong SAR users after 30 May 2024, and reminder on withdrawing your assets from all relevant DGFX platforms.

Dear client,

We are writing to advise the following:

1. DGFX HK Limited (“DGFX HK”) did not submit an application for the operation of a virtual asset trading platform in HKSAR (“Trading Platform”) on or prior to 29 February 2024, the deadline on which such application must be submitted to the SFC under the relevant licensing regime for processing.
2. In accordance with the relevant regulations, DGFX HK will be closing its Trading Platform in HKSAR on 30 May 2024.
3. In addition to individual notices to each affected client, a notice will also be placed prominently on the website of the Trading Platform.
4. The procedures and requirements for withdrawing the full balance of your assets remains unchanged to the current measures. No additional or special fees will be imposed on the withdrawal of client assets from the Trading Platform during this period.
5. You are advised to withdraw the balance of your account no later than 30 May 2024, the last day on which the Trading Platform remains operational.
6. During this period, support staff will prioritize assisting the relevant clients on their queries regarding the withdrawal of their assets.

Background

1. DGFX HK took notice of recent industry and legislative developments with the potential to offer new means to serve the HKSAR market beyond the virtual asset trading platform model.
2. Having assessed these developments, DGFX HK opted to wait for the full details about these options to emerge in the later part of 2024, prior to committing to the HKSAR market under a new business model with a product lineup designed for local business and regulatory needs.
3. The closure of the DGFX HK has no implications towards the DigiFinex group of companies. The companies comprising the DigiFinex Group continue to serve clients in their respective markets, with emphasis on each local unit independently tailored to the relevant local business conditions, client demand, and relevant regulations and licensing requirements of its respective jurisdiction.
4. DGFX HK remains interested in the HKSAR market, and will provide updates on its future business plan and regulatory model in the jurisdiction once they are ascertained.

Reference:
https://www.info.gov.hk/gia/general/202402/08/P2024020800238.htm
https://apps.sfc.hk/edistributionWeb/gateway/EN/circular/doc?refNo=23EC65