Gate.io has confirmed that it is applying for multiple licenses with the Securities and Futures Commission (SFC) in Hong Kong through its Hong Kong entity, Gate Digital Limited. The licenses include a virtual asset service provider (VASP) license, as well as licenses for dealing in securities and providing automated trading services for security tokens. The move is aimed at improving trust and confidence among its customers while maintaining compliance with regulations.

Gate Group, which owns Gate.io, has announced its participation in the Hong Kong Web3 Festival 2023, where the company will co-host the BTS Labs Network Assembly to demonstrate its commitment to fostering the growth and development of Web3 and the blockchain ecosystem. Edwin Cheung, the business lead for Gate Hong Kong, will represent the exchange at the event, which runs from April 12-15 and aims to increase the adoption of Web3 and blockchain technology.