The virtual
asset management provider HashKey Capital Limited has secured both Type 4 and
upgraded Type 9 licenses from the Securities and Futures Commission (SFC),
becoming the first licensed corporation to offer a complete suite of securities
and virtual asset management and advisory services to retail investors in Hong
Kong.
Representatives
of the company told Finance Magnates that this move aims to position
HashKey Capital as one of the leading cryptocurrency firms operating in the
region.
HashKey Capital Secures
Dual Licenses in Hong Kong
The Type 4
license, obtained under license number BOP237, authorizes HashKey Capital to
provide securities and virtual asset advisory services, subject to conditions
such as due diligence and investor knowledge assessments.
https://t.co/ervI3yxvKy
— HashKey Capital (@HashKey_Capital) May 13, 2024
This
milestone follows the firm’s successful Type 9 license upgrade earlier this
year, which allowed it to manage virtual asset investment products for retail
investors.
“We are now
the only entity with double licensure in Hong Kong,” Jupiter Zheng, the Research
Director at HashKey Capital, explained to Finance Magnates. “This means
we can offer a full suite of products and services for retail and institutional
investors.”
As he
emphasized, the company offers several different products, which can be brought
together thanks to the dual license. Among them are in-house fund offerings,
investment product advisory, research reporting, and investor education in
digital assets.
“For TradFi
investors, these licenses increase confidence in our ability to bring compliant
investment services to the public,” added Vivien Wong, the Partner Liquid Fund at
HashKey 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 Test
To access
HashKey Capital’s virtual asset advisory services, all clients must pass a
suitability test, which helps the firm understand investors’ financial status,
geopolitical status, investment perspective, and risk tolerance
“All
clients, whether they are retail or institutional investors, must pass a
suitability test, before HashKey Capital can perform its virtual assets
advisory services to them,” Wong, added. “The suitability test will help
HashKey Capital to understand the financial status and can determine which kind
of advice to be delivered to them.”
As she emphasized,
additional tests will be conducted regularly, and KYC procedures will be
carried out for their investors.
The latest
moves follow the introduction of the Bosera HashKey Bitcoin and Ether spot
ETFs, managed by Bosera Asset Management (International) Co., Limited, with
HashKey Capital Limited serving as the sub-investment manager.
Since its
inception, HashKey Capital has managed over $1 billion in client assets and has
made more than 500 investments in infrastructure, tools, and applications
This article was written by Damian Chmiel at www.financemagnates.com.
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