HashKey Launches Wealth Mgmt Service, Sees ‘Significant Demand’ for Crypto
• HashKey Group has launched a new wealth management platform to help investors access virtual assets.
• The service was enabled by licenses granted by the Hong Kong Securities and Futures Commission.
• HashKey also announced plans to expand its over-the-counter trading service with increased liquidity coverage.
HashKey Launches Wealth Management Service
Hong Kong-based digital asset firm HashKey Group has launched a new wealth management platform geared toward professional and institutional investors. In an April 14 announcement, HashKey cited “significant demand from investors to access virtual assets” as the reason for its move into the wealth management space.
Licenses Granted By Local Regulators
On Sept. 13, HashKey announced that it had been granted a “Type 9 asset management license” by Hong Kong’s Securities and Futures Commission, allowing it to manage portfolios that only contain virtual assets and likely paved the way for its latest offering.
Growth Potential For Crypto
HashKey pointed to a 2022 study from consultancy firm Boston Consulting Group, which found 0.3% of individual wealth is invested in crypto compared to the 25% invested in equities. It claims this signals there is “potential robust demand for virtual assets in the future”.
Expanding Over-The-Counter Trading Service
In response to recent challenges in the crypto market, HashKey said it would be expanding its over-the-counter trading service by expanding the number of tokens in its spot market and increasing its liquidity coverage to 24/7.
500 Million Investment Round Closed
On Jan. 17 HashKey closed a $500 million investment round for a fund that it plans to use to help push for mass adoption of blockchain and crypto technologies