Hong Kong-based digital asset agency HashKey Group has launched a brand new wealth administration platform geared towards skilled and institutional buyers.
In an April 14 announcement, HashKey cited “important demand from buyers to entry digital property” as the explanation for its transfer into the wealth administration house.
Deng Chao, the CEO of the group’s enterprise capital arm HashKey Capital, famous the service permits it to supply options to assist faucet into the “rising alternatives of digital property.”
HashKey pointed to a 2022 research from consultancy agency Boston Consulting Group (BSG) which discovered 0.3% of particular person wealth is invested in crypto in comparison with the 25% invested in equities.
It claims this indicators there may be “potential sturdy demand for digital property sooner or later,” a sentiment that was shared by BSG when it initially printed the report.
On Sept. 13, 2022, HashKey introduced that it had been granted a “Kind 9 asset administration license” by Hong Kong’s Securities and Futures Fee (SFC) permitting it to handle portfolios that solely include digital property and sure paved the best way for its newest providing.
Associated: Hong Kong digital financial institution to supply crypto conversions and accounts: Report
Within the newest announcement, HashKey additionally famous that “latest challenges within the crypto market have highlighted the necessity for deep and dependable liquidity.”
In response, HashKey stated it will be increasing its over-the-counter buying and selling service by increasing the variety of tokens in its spot market and growing its liquidity protection to 24/7.
On Jan. 17 HashKey closed a $500 million funding spherical for a fund that it plans to make use of to assist push for mass adoption of blockchain and crypto applied sciences.
We’re delighted to share that @HashKey_Capital efficiently closed its Fund III, having raised a complete of $500 million.
The Fund might be deployed to advance world #crypto and #blockchain initiatives, targeted on constructing and scaling the #Web3 ecosystem.https://t.co/qjq3ur0N7F
— HashKey Group (@HashKeyGroup) January 17, 2023
Cointelegraph contacted HashKey for remark however didn’t instantly obtain a response.
