First bitcoin retail store launches in Hong Kong

Tony Liaw and Adam Xu

Wednesday, November 26, 2014

BitFX, a mining and trading firm of the virtual currencies, launched the first bitcoin retail store in Hong Kong yesterday.

Located in Jordan, Kowloon, the store aims to provide one-stop bitcoin exchange services to users.

"When we founded BitFX we wanted to create a physical presence for bitcoin and connect the digital and physical bitcoin experience," said Gina Lesile, BitFX vice chairwoman.

Bitcoin is an open-source peer-to-peer electronic money and payment network introduced in 2009.

To improve security of the virtual currency, BitFX introduced the 3D Bitcoin wallet, which features better protection.

Bitcoinnect chief executive Jase Leung Wing-hei said it is going to launch five more bitcoin ATMs across the SAR this week.

Leung said his firm is working with regulators to improve the security of the currency, as the bitcoin industry has come under scrutiny after the MtGox scandal.

MtGox has mysteriously disappeared, after chief Mark Karpeles said 774,000 bitcoins worth US$409 million (HK$3.19 billion) were lost due to a technical glitch.

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First bitcoin retail store launches in Hong Kong