HashKey launches wealth management service, citing ‘significant’ demand

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HashKey Group, a Hong Kong-based digital asset company, has launched a new wealth management platform for professional and institutional investors.

In the April 14th announcement, HashKey Quote The reason given for the move into the wealth management space was “great demand from investors for access to crypto assets”.

Deng Chao, CEO of HashKey Capital, the group’s venture capital arm, said the service will provide a solution that can help capitalize on the “growing opportunities of crypto assets.”

HashKey points to a 2022 study by consulting firm Boston Consulting Group, which found that 0.3% of personal wealth is invested in cryptocurrencies, compared to 25% in stocks.

This, it claims, indicates that there is “potentially strong demand for crypto-assets in the future,” a sentiment BSG shared when it first published the report.

September 13th, HashKey announced A “Type 9 asset management license” has been granted by the Securities and Futures Commission of Hong Kong, allowing it to manage portfolios containing only crypto assets, which may have paved the way for its latest offering.

Related: Hong Kong Virtual Bank Offers Crypto Conversions And Accounts: Report

In the latest announcement, Hushkey also said, “Recent challenges in the cryptocurrency market highlight 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 the spot market and increasing liquidity coverage to 24/7.

On January 17th, HashKey completed a $500 million investment round in a fund it plans to use to drive mass adoption of blockchain and crypto technology.

happy to share it @HashKey_Capital successfully closed Fund III, raising a total of $500 million.

The fund will be deployed to advance globalization #Crypt and #Blockchain Initiatives focused on building and scaling #Web3 ecosystem.https://t.co/qjq3ur0N7F

— Hash Key Group (@HashKeyGroup) January 17, 2023

Cointelegraph did not immediately respond to a request for comment from Hushkey.

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