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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.

A screenshot from BSG’s 2022 report highlights the growth potential of cryptocurrencies. sauce: BSGMore

It claims that this indicates that there is “potentially strong demand for crypto assets in the future.” This is the sentiment he shared with BSG when it first published the report.

September 13th, HashKey announced It has been granted a “Type 9 asset management license” 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 will expand its over-the-counter trading service by increasing the number of tokens on the spot market and extending 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.

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

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