- Crypto.com will close its Hong Kong consumer app services on February 1, 2027.
- Users must withdraw their assets and close accounts before the cutoff.
- Crypto.com still seeks a Hong Kong VATP license for its institutional exchange.
Crypto.com will end its Hong Kong consumer app services on February 1, 2027, while maintaining its institutional exchange plans.
The company said the retail closure would streamline global operations and redirect resources toward markets offering viable long-term growth. For affected customers, that shift means withdrawing assets and closing accounts before the cutoff. Meanwhile, its institutional plans remain subject to a separate licensing process.
Why Crypto.com Is Keeping Its Hong Kong Exchange Plans
Those plans center on Crypto.com Exchange, a platform serving institutional investors rather than consumer app customers. Its local entity, Foris DAX HK Limited, is pursuing a virtual asset trading platform (VATP) license.
The application sits with Hong Kong’s Securities and Futures Commission (SFC), which has yet to issue final approval. Foris DAX HK Limited currently holds deemed-to-be-licensed status, a temporary arrangement that does not constitute a full license. As a result, Crypto.com is winding down one service while pursuing authorization for another.
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What Retail Users Must Do Before the February 1 Closure
With that deadline set, Crypto.com said it has already notified affected customers about the change. It will follow those notices with separate instructions explaining how to withdraw funds and close accounts.
Customers must complete those steps by February 1, 2027, using the procedures provided by the company. To support that process, Crypto.com plans to keep customer assistance available as users move their assets.
How Hong Kong’s Licensing Rules Affect the Pending Application
Hong Kong requires centralized virtual asset trading platforms operating in the city to obtain a license from the SFC. However, Foris DAX HK Limited’s deemed-to-be-licensed status does not amount to full regulatory approval. Crypto.com’s institutional exchange plans therefore remain dependent on the SFC’s licensing decision, even as the company prepares to discontinue its consumer app services in Hong Kong.
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