The investment division of the HashKey Group, HashKey Capital, manages approximately $1 billion in client funds and invests in blockchain technology and digital assets.
HashKey Capital Pte Ltd, together with its affiliates, the “HashKey Group,” announced at the Singapore Fintech Festival 2022 that it has been granted its in-principle approval for the Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) as a licensed fund management company (LFMC).
HashKey Capital Singapore will be able to provide fund management services from Singapore after the CMS license has been granted, the firm said in a statement.
Deng Chao, Chief Executive Officer of HashKey Capital Singapore, stated after the MAS license announcement:
“Singapore is quickly becoming the region’s epicenter of Web3 innovation. Being recognized by the MAS as a licensed fund management company will allow the Singapore-based company to contribute to and support the local Web3 community, which is considered a significant accomplishment for us.”
Chao added that, as one of the leading Web3 institutional investors in Asia, HashKey Capital is ready to provide additional contributions to help the local Web3 industry grow even more.
Chao also revealed that HashKey Capital will be able to provide its services to accredited and institutional investors once the CMS license is issued. “Moreover, we expect that it will strengthen the company’s position across Asia and even on a global scale,” he said.
In the early stages of September, the company was also handed an upgrade of its Type 9 license for asset management by the Securities and Futures Commission (SFC) of Hong Kong, allowing it to manage a portfolio of 100% virtual assets.
In January, HashKey Group, the crypto arm of Chinese multinational Wanxiang Group, received a $360 million investment commitment for a blockchain fund. Additionally, the group also received approval from Hong Kong regulators in September to manage investment portfolios made up entirely of cryptocurrency.
The investment division of the HashKey Group, HashKey Capital, manages approximately $1 billion in client funds and invests in blockchain technology and digital assets.
According to the company, its goal is to connect Web2 and Web3 while bridging the mainstream adoption of digital assets. The company is one of the largest blockchain funds based in Asia and Ethereum’s earliest corporate investor in the region.
Since 2015, HashKey Capital has invested in over 500 international companies, ranging from Layer 1 protocols, crypto finance, Web 3 infrastructure, non-fungible tokens (NFT), and the Metaverse. The company is based in Hong Kong and Singapore and has strong relationships in Japan and the United States.
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