The Hainan International Offshore Innovation and Entrepreneurship Demonstration Zone recently hosted the Blockchain and Digital Asset Trading Technology Innovation Forum in Sanya. Key industry players, including OK Group, Tianya Community, and Draper Dragon Innovation, signed strategic agreements with the Sanya municipal government.
Key Developments in Digital Asset Trading
OK Group's Blockchain Initiatives
Formerly known as OK Group, the rebranded OKX announced plans to establish an offshore blockchain digital asset trading lab in Sanya. Notably:- OKEx, its flagship trading platform, has transitioned operations from Beijing Ledude Network Technology to Beijing Fenghuo Chuangjie Technology.
- The platform remains a leader in virtual asset contract trading since its 2017 launch.
Huobi China's Compliance Milestones
Huobi China became one of the first blockchain firms to establish its headquarters in Hainan’s Eco-Software Park in 2018. Recent highlights include:- Founding member of the Blockchain Service Network (BSN) alliance.
- Formation of the China Blockchain+ Industry Alliance to drive sector-wide collaboration.
Policy Vision for Digital Assets
Hainan Vice Governor Wang Lu emphasized the province’s ambitions:"Hainan aims to be a national hub for blockchain R&D, digital asset trading, and offshore innovation."
Strategic Partnerships and Investments
- CoinBull’s Integrated Trading Platform
Partnering with both OKX and Huobi, CoinBull offers unified access to multiple exchanges via Huobi Cloud’s API. Its CEO Huang Jin describes the platform as a "Bloomberg-like terminal for crypto traders."
👉 Explore CoinBull’s trading solutions - Hengjiu Technology’s Blockchain Foray
The subsidiary Minbao Co. invested $712,000 in CoinBull for a 5% stake, signaling its entry into blockchain and big data. Analysts speculate this could position Hengjiu as China’s first listed digital asset exchange stock.
Industry Outlook: Compliance and Growth
With stricter regulations targeting crypto exchanges, compliance has become critical for survival. Experts predict:
- Pilot programs like regulatory sandboxes and offshore labs will reshape the exchange landscape.
- Asset digitization by enterprises may spawn "super-companies" rivaling Alibaba or Tencent, per Gao Bin of the China Communications Industry Association Blockchain Committee.
FAQ Section
Q: Why is Hainan a hotspot for blockchain innovation?
A: Hainan’s free trade port policies and government support make it ideal for blockchain and digital asset experiments.
Q: How does CoinBull differentiate itself from other crypto platforms?
A: It aggregates liquidity from top exchanges (e.g., OKX, Huobi) into a single interface, simplifying multi-exchange trading.
Q: What risks do crypto exchanges face in China?
A: Non-compliant platforms risk shutdowns, while those embracing regulation (like Huobi) gain long-term viability.
👉 Latest updates on compliant exchanges
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