Crypto exchange OKX has applied for a virtual asset trading platform (VATP) license in Hong Kong, positioning its Hong Kong branch, OKX Hong Kong FinTech, at the forefront of the city’s efforts to become a key cryptocurrency hub in the region.

The application, submitted on Nov. 16, is listed on the Securities and Futures Commission’s (SFC) website, South China Morning Post reported.

OKX Hong Kong FinTech is the seventh entity to apply for the license, just eight months after its establishment.

This follows PantherTrade, linked to Futu Holdings, which applied a day earlier.

Lennix Lai, OKX’s Global Chief Commercial Officer, expressed enthusiasm about the application in a recent statement.