HashKey Expands Fiat Deposit Channels with Deutsche

Deutsche Bank has helped its client HashKey Exchange, Hong Kong’s largest licensed virtual asset exchange, to launch a new fiat deposit channel, enhancing user experience on the exchange’s platform.

The bank will provide fiat currency deposit services to HashKey, effective immediately, meaning that clients of crypto exchange can directly deposit Hong Kong or US dollars into virtual accounts managed by Deutsche Bank. This offers an alternative to existing deposit options on HashKey’s Exchange, the firms say and leverages Deutsche Bank’s API-based virtual account solution.

“Our expertise with serving clients in the fintech, platform and digital economy space positions us strongly to partner with HashKey to take its operations to the next level and grow for the long-term,” says Ole Matthiessen, head of Corporate Bank for Asia Pacific and Middle East & Africa and global head of cash management at Deutsche Bank.

Hai Yang Ru, chief risk officer of HashKey Group, adds, “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.”