The Securities and Futures Commission (SFC) of Hong Kong has granted an expanded license to HashKey Capital, allowing the firm to extend its services to retail investors. This upgrade removes the previous restriction that limited its client base to professional investors only. HashKey Capital sees this regulatory approval as a potential pathway to introduce virtual asset investment products to retail investors, pending necessary product approvals from the SFC.
Deng Chao, CEO of HashKey Capital, expressed excitement about the development, emphasizing the firm's leadership in the industry and the opportunity for retail investors to access fund products in the growing digital asset market through a trusted and regulated platform.
Furthermore, the upgrade is expected to drive market expansion for HashKey, unlocking new markets and opportunities while enabling the firm to attract a broader investor base and reinforce its position as a leader in digital asset management.
Hong Kong Is About to Launch a Bitcoin ETF
The news coincides with the SFC's plan to potentially approve the first batch of Spot Bitcoin Exchange-Traded Funds (ETFs) on April 15. In anticipation of this announcement, the SFC updated its list of authorized fund companies, which notably includes prominent Chinese asset managers Harvest Global Investment and China Asset Management.
In a related move, HashKey recently announced a strategic partnership with Bosera Funds. This collaboration is focused on offering virtual asset Spot ETFs and financial technology solutions. Through this partnership, both entities aim to develop innovative products, conduct joint research on emerging technologies, and collaborate on initiatives such as talent development, technology exchange, and market expansion.
International Crypto Users Are the Focus of the New HashKey Platform
HashKey recently introduced its new global trading platform, which provides access to a diverse range of over 20 cryptocurrencies for trading. Targeting international markets, the platform excludes regions with cryptocurrency restrictions, such as mainland China, Hong Kong, and the US.
Plans are in place to incorporate futures trading functionality within the first three months of the platform's launch.
April 2024, Cryptoniteuae