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HashKey Launches Wealth Management Service, Citing ‘significant’ Requests

HashKey Group, a digital asset company based in Hong Kong, recently introduced a new wealth management platform that is oriented towards the needs of professional and institutional investors.

HashKey claimed “significant demand from investors to access virtual assets” as the basis for its foray into the wealth management industry in an announcement made on April 14. The statement was made on April 14.

Deng Chao, chief executive of the company’s venture capital division known as HashKey Capital, stated that the service allows companies to provide solutions that help take advantage of “virtual asset growth opportunities.”

HashKey cites a survey by consulting firm Boston Consulting Group conducted in 2022 and concluded that only 0.3% of individual wealth is invested in cryptocurrencies, whereas 25% of people’s wealth is invested in stocks.

According to them, this indicates that there will be “potentially strong demand for virtual assets in the future,” which is a perspective that BSG also shared when it first published the research. HashKey made the announcement on Sept. 13 that it had been granted a “Type 9 asset management license” by the Hong Kong Securities and Futures Commission. This license allows the company to manage a portfolio consisting exclusively of virtual assets and may have paved the way for its newest offerings.

HashKey mentioned in its latest statement that “recent challenges in the cryptocurrency market have highlighted the need for deep and reliable liquidity.”

In response, HashKey said it would expand its over-the-counter trading services. In particular, the company stated that it will increase the number of tokens available on its spot market and make its liquidity coverage available around the clock.

HashKey successfully completed a $500 million funding round on January 17 for funds to be used to help promote the widespread use of blockchain technology and cryptography. HashKey was contacted by Cointelegraph for comment, but the publication did not immediately receive a response.

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