World Crypto Global
- Written by: Damian Chmiel
- Thu, 16 May 2024
- Israel
The virtualasset management provider HashKey Capital Limited has secured both Type 4 andupgraded Type 9 licenses from the Securities and Futures Commission (SFC),becoming the first licensed corporation to offer a complete suite of securitiesand virtual asset management and advisory services to retail investors in HongKong.Representativesof the company told Finance Magnates that this move aims to positionHashKey Capital as one of the leading cryptocurrency firms operating in theregion.HashKey Capital SecuresDual Licenses in Hong KongThe Type 4license, obtained under license number BOP237, authorizes HashKey Capital toprovide securities and virtual asset advisory services, subject to conditionssuch as due diligence and investor knowledge assessments.https://t.co/ervI3yxvKy HashKey Capital (@HashKey_Capital) May 13, 2024Thismilestone follows the firm's successful Type 9 license upgrade earlier thisyear, which allowed it to manage virtual asset investment products for retailinvestors.We are nowthe only entity with double licensure in Hong Kong, Jupiter Zheng, the ResearchDirector at HashKey Capital, explained to Finance Magnates. This meanswe can offer a full suite of products and services for retail and institutionalinvestors.As heemphasized, the company offers several different products, which can be broughttogether thanks to the dual license. Among them are in-house fund offerings,investment product advisory, research reporting, and investor education indigital assets.For TradFiinvestors, these licenses increase confidence in our ability to bring compliantinvestment services to the public, added Vivien Wong, the Partner Liquid Fund atHashKey Capital.A month ago, the Asian firm also introduced the HashKey Global exchange after obtaining a license in Bermuda to offer regulated digital asset trading services.Suitability TestTo accessHashKey Capital's virtual asset advisory services, all clients must pass asuitability test, which helps the firm understand investors' financial status,geopolitical status, investment perspective, and risk toleranceAllclients, whether they are retail or institutional investors, must pass asuitability test, before HashKey Capital can perform its virtual assetsadvisory services to them, Wong, added. The suitability test will helpHashKey Capital to understand the financial status and can determine which kindof advice to be delivered to them.As she emphasized,additional tests will be conducted regularly, and KYC procedures will becarried out for their investors.The latestmoves follow the introduction of the Bosera HashKey Bitcoin and Ether spotETFs, managed by Bosera Asset Management (International) Co., Limited, withHashKey Capital Limited serving as the sub-investment manager. Since itsinception, HashKey Capital has managed over $1 billion in client assets and hasmade more than 500 investments in infrastructure, tools, and applicationsThis article was written by Damian Chmiel at www.financemagnates.com.
