Hong Kong's HashKey Expands Services with New Wealth Management Platform

Hong Kong's HashKey group targets professional investors to expand services with a New Wealth Management platform for virtual assets 

HashKey Group, a digital asset firm based in Hong Kong, has launched a wealth management platform targeting professional and institutional investors. Citing significant demand from investors to access virtual assets, HashKey aims to tap into the growing opportunities in the virtual asset market. The move comes after HashKey received a Type 9 asset management license from Hong Kong's Securities and Futures Commission in September 2022, allowing it to manage portfolios that exclusively contain virtual assets.

HashKey Expands OTC Trading and Launches Wealth Management Platform to Address Growing Demand for Virtual Assets

HashKey made reference to a Boston Consulting Group report from 2022, which discovered that only 0.3% of personal wealth is held in cryptocurrencies, as opposed to 25% held in stocks. This indicates potential robust demand for virtual assets in the future, according to HashKey. The company also acknowledged recent challenges in the crypto market and highlighted the need for deep and reliable liquidity.

In response, HashKey plans to expand its over-the-counter (OTC) trading service by increasing the number of tokens in its spot market and extending its liquidity coverage to 24/7. HashKey recently closed a $500 million investment round for a fund aimed at driving mass adoption of blockchain and crypto technologies.

With the new wealth management platform, HashKey aims to cater to the needs of professional and institutional investors looking to access virtual assets as part of their investment portfolios. The expansion of its OTC trading service and increased liquidity coverage indicate the company's commitment to addressing the challenges faced by the crypto market and providing reliable services to its clients.

HashKey's move into the wealth management space is seen as a strategic move to capitalize on the growing demand for virtual assets, as highlighted by the Boston Consulting Group study. The granting of the Type 9 asset management license by Hong Kong's regulatory authorities has paved the way for HashKey to expand its range of products and services, establishing itself as a major player in the market for virtual assets.

Also, read - Crypto Goes Viral on Chinese TikTok But Not For Very Long! | CoinGabbar News