Hong Kong's HashKey Gets Nod to Manage 100% Crypto Portfolio

HashKey Capital Limited (together with its affiliates, the 'HashKey Group'), has been granted an uplift of its Type 9 asset management license by the Securities and Futures Commission (SFC) of Hong Kong, so as to manage a portfolio of 100% virtual assets.

HashKey Capital Limited is part of HashKey Capital, the investment arm of the HashKey Group and one of the leading crypto-native asset managers in Asia. HashKey Capital or its affiliates serve as general partners in managing investment funds focusing on digital assets and the blockchain ecosystem.

Following the uplift, HashKey Capital Limited will be allowed to manage funds exclusively investing in virtual assets in compliance with the SFC's regulations.

Commenting on the milestone, HashKey Group Chairman Dr. Xiao Feng said, "HashKey Group was among the first enthusiasts and advocates of the crypto industry. We are dedicated to the development of the blockchain and crypto ecosystem, and it has long been our goal to actively support regulation while aiding the industry's sustainable growth. This Type 9 license uplift reinforces our commitment to fostering and advancing the blockchain community in Hong Kong and across Asia."

In October 2019, the SFC published "Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets." The document outlines the operational and regulatory compliance requirements it expects of asset managers seeking to expand their business scope to incorporate virtual asset investment.