Crypto lending firm Pawnhub has become the first Hong Kong’s fully licensed and insured crypto lender.

Pawnhub has received the Hong Kong government approval for providing crypto lending services, reported the company on January 23. At this moment the Pawnhub already displays the Hong Kong Money Lender’s License.

According to the webpage, crypto lending company also operates in partnership with Jumio and Coinbase Custody, one of the leading US crypto-asset custody firms. 

Bitcoinists also reports that the company has offices in Europe, Taiwan and Thailand, and aspire to win Asian crypto lending market with its newly acquired official license.

According to Bloomberg, cryptocurrency loan market might have reached $5 billion industry last year. Given the fact that Asian share is relatively modest at the moment, Pawnhub’s move might accelerate the market growth in the region.

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