HashKey, a cryptocurrency exchange, has introduced its inaugural AI-powered product, ModAI, and plans to enhance its offerings by incorporating AI agents that can trade on blockchain networks.
On April 3, this Hong Kong-based exchange ventured into the realm of artificial intelligence with the launch of ModAI. As detailed on its official website, ModAI is designed to moderate content, create virtual avatars, interact with users through a chatbot, and provide customer support.
A report indicated that the AI-driven solution could reduce operational expenses by as much as 80% and potentially double user engagement. ModAI leverages a blend of large language models (LLMs) from sources like DeepSeek, OpenAI, Anthropic, and Meta Platforms.
This AI tool is capable of communicating with users in multiple languages, including Chinese, English, Japanese, and Vietnamese, with plans to add even more languages to its repertoire within the year.
Sean Wang, the vice president of product and leader of the AI team, noted that while HashKey initially intended to create its own LLM, they opted against it due to the substantial costs associated with development.
Wang also mentioned that the company aims to expand its AI capabilities to include agents that assist users with various tasks. One future feature the firm envisions is the ability for AI agents to automatically invest in crypto assets according to a user’s financial goals and capital, he explained.
AI agents have sparked considerable interest in the crypto community as traders enjoy the convenience and innovations these tools provide for financial management. Nonetheless, there has been criticism regarding their effectiveness and role within the sector.
Recently, Changpeng “CZ” Zhao, co-founder of Binance, expressed that many developers of AI agents often place too much emphasis on creating a token for their agent rather than focusing on its practical utility. He advised developers to prioritize building a “truly effective agent” before launching a token.
Earlier, Zhao referred to AI chatbots as “lazy” for being limited to sharing existing knowledge rather than providing new insights. He remarked, “The issue with AI chatbots is that often, I don’t know what I don’t know. I don’t know what to ask. It would be beneficial if they could just inform me of things I should be aware of. So lazy,” he stated in his post.
In the previous month, HashKey also initiated a project aimed at evaluating cryptocurrencies and exchanges in Hong Kong to assist local crypto firms in adhering to the region’s regulatory standards regarding virtual assets.