• OKX and Web3 expertise firm HashKey Group are eyeing a strategic partnership geared toward accelerating innovation and adoption of digital property in Hong Kong.
• Elsewhere, OKB tokens fell sharply on Tuesday, dropping greater than 25% to $39.

Cryptocurrency alternate OKX and Web3 expertise firm HashKey Group are exploring a partnership to spice up innovation and adoption of digital property in Hong Kong.

The businesses mentioned in a press launch on Tuesday that the partnership will give attention to quite a lot of crypto-related applications, together with blockchain infrastructure, product growth, and academic initiatives on crypto asset investing.

In accordance with the announcement, OKX and HashKey Group's efforts will goal efforts that adjust to Hong Kong's regulatory framework.

Specifically, OKX and HashKey Group goal to leverage the strengths and sources of their respective corporations to drive development throughout Hong Kong, one of many world's quickest rising cryptocurrency hubs. .

At present's information comes days after OKX revealed it had secured a VASP license from Dubai's market regulator VARA.

What is occurring with OKB token?

On Tuesday, the worth of OKB, the native token of the OKX cryptocurrency alternate, plummeted above $52 and hit a low of $39. OKB's market valuation fell by greater than $700 million within the early morning flash crash.

The OKX token has recovered a few of its losses however remains to be under $50. On the time of writing, it’s buying and selling round $45 and is vulnerable to additional decline amid widespread bleeding within the crypto market.

Relating to Flash Crash, OKX CEO Star Xu mentioned in a earlier article: put up X reported that the alternate was investigating the crash. He promised to maintain the cryptocurrency neighborhood up to date.