Cryptocurrency exchange Gate Group has confirmed that it has applied for a new crypto license in Hong Kong. This announcement comes as the company aims to expand its reach and offerings in the region.

By applying for a new crypto license in Hong Kong, Gate Group will launch Gate HK, a new platform designed for the Hong Kong market.

In the statement, Dr. Han Lin, Founder of Gate Group said:

"We are excited to be applying for this new crypto license in Hong Kong. It is an important step for us as we look to expand our operations and provide our customers with the best possible service. We are committed to complying with all relevant regulations and working closely with the authorities to ensure the safety and security of our users' funds."

The Hong Kong government has been supportive of the development of the cryptocurrency industry in the region, and many companies have been attracted to the city due to its favorable regulations and business-friendly environment. The new license that Gate Group is applying for will allow the company to operate legally and provide services to customers in Hong Kong.