The digital asset company Hong Kong-based HashKey Group has launched a new wealth management platform aimed at professional and institutional investors.
In a statement made public on April 14, HashKey cited “significant investor demand for access to virtual assets” as a reason for its entry into the wealth management industry.
Deng Chao, CEO of the group’s venture capital arm, HashKey Capital, said the service allows him to offer solutions to help take advantage of the “growing opportunities of virtual assets.”.
HashKey pointed to a 2022 study by the Boston Consulting Group, according to which 0.3% of individual wealth is invested in cryptocurrencies, compared to 25% that is invested in equities.
He claims that this indicates that there is a “potentially strong demand for virtual assets in the future”, a sentiment that was shared by BSG when it initially published the report..
On September 13, HashKey announced that it had been granted a “Type 9 Asset Management License” by the Hong Kong Securities and Futures Commission, allowing it to manage portfolios containing only virtual assets. and probably paved the way for his latest offer.
In the last ad, HashKey also noted that “recent challenges in the cryptocurrency market have highlighted the need for deep and reliable liquidity.”.
In response, HashKey said it would expand its over-the-counter trading service by expanding the number of tokens on its spot market and increasing its liquidity coverage to 24/7..
On January 17, HashKey has closed a $500 million investment round for a fund it plans to use to help drive mass adoption of blockchain and cryptocurrency technologies..
We’re delighted to share that @HashKey_Capital successfully closed its Fund III, having raised a total of $500 million.
The Fund will be deployed to advance global #crypto and #blockchain initiatives, focused on building and scaling the #Web3 ecosystem.https://t.co/qjq3ur0N7F
— HashKey Group (@HashKeyGroup) January 17, 2023
We are delighted to share that @HashKey_Capital successfully closed their Fund III, raising a total of $500 million. The Fund will be used to drive global cryptocurrency and blockchain initiatives, focused on building and expanding the Web 3 ecosystem.https://t.co/qjq3ur0N7F
Cointelegraph reached out to HashKey for comment but did not immediately hear back.
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