DLA Piper secures SFC approval for Hong Kong virtual asset trading platform licence for NewBX Limited

Global law firm DLA Piper advised NewBX Limited on its successful application for a virtual asset trading platform (VATP) licence under the Hong Kong Securities and Futures Commission (SFC) regulatory regime, which came into effect on 18 May 2026.

NewBX Limited is a Hong Kong-based digital asset business focused on the development and operation of a regulated virtual asset trading platform (VATP), offering institutional-grade infrastructure and custody arrangements in line with Hong Kong’s evolving regulatory framework.

The DLA Piper team, jointly led by Kristi Swartz, Partner in the Fintech and Digital Assets Group, and George Wu, Partner and Head of Equity Capital Markets (APAC), both based in Hong Kong assisted NewBX throughout the full lifecycle of the application, including regulatory analysis of its business model and services, advice on Hong Kong licensing and ongoing compliance requirements and preparation of supporting materials. In parallel, the team advised on the establishment of NewBX’s associated entity to act as custodian for the VATP, including assisting with drafting the client services agreement.

Kristi Swartz commented: “Securing SFC approval is a significant milestone for virtual asset platforms operating in Hong Kong’s regulated environment. We were pleased to support NewBX through the licensing process and to help navigate the complex regulatory, operational and compliance considerations involved in launching a VATP in the region.”

DLA Piper advises on a wide range of virtual asset and digital asset regulatory matters across Asia, including the licensing and establishment of virtual asset trading platforms, digital asset exchanges and related custodial arrangements. The firm has acted on numerous comparable mandates in Hong Kong and across the region, supporting clients on market entry, regulatory approvals and ongoing compliance within regulated digital asset frameworks.