HashKey Group, a Hong Kong-based digital asset firm, has launched a new wealth management platform geared toward professional and institutional investors. The company cited “significant demand from investors to access virtual assets” as the primary reason for its move into the wealth management space. Led by CEO Deng Chao, the group’s venture capital arm, HashKey Capital, the new service provides solutions to tap into the “growing opportunities of virtual assets.”
The decision was likely impacted by a 2022 study from consultancy firm Boston Consulting Group, which found that only 0.3% of individual wealth is invested in crypto compared to the 25% invested in equities. This signals there is ‘potential robust demand for virtual assets in the future’, which was echoed in BSG’s initial report.
On Sept. 13, HashKey Group was granted a “Type 9 asset management license” by Hong Kong’s Securities and Futures Commission. The license allowed the company to manage portfolios that only contain virtual assets, paving the way for its launch.
In an effort to ensure reliable liquidity in the crypto market, HashKey has also committed to expanding its over-the-counter trading services by increasing the number of tokens available in its spot market and boosting liquidity coverage to 24/7. Additionally, in January HashKey closed a $500 million investment round to be used to support the mass adoption of blockchain and crypto technologies.
The launch of its wealth management platform, combined with its efforts to improve crypto market liquidity, demonstrate HashKey’s commitment to successfully managing the digital asset landscape. By offering services to both individual and professional investors, HashKey is perfectly positioned to capitalize on the growing demand for virtual assets in the future.