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Hong Kong's HashKey Receives Approval to Manage 100% Crypto Portfolio

The crypto funds can manage a portfolio of 100% virtual assets, joining the first batch of Hong Kong’s few licensed virtual asset managers.

Updated May 11, 2023, 5:35 p.m. Published Sep 13, 2022, 1:00 a.m.

The Hong Kong skyline (bady abbas/unsplash)

Hong Kong's HashKey Capital Limited said it can now manage portfolios invested 100% in crypto after securing a Type 9 asset management license from the Securities and Futures Commission (SFC) of Hong Kong.

The company is one of a handful of licensed virtual asset managers in Hong Kong, including Huobi and MaiCapital Limited, according to SFC’s records.

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“This Type 9 license uplift reinforces our commitment to fostering and advancing the blockchain community in Hong Kong and across Asia,” HashKey Group Chairman Xiao Feng said in the press release.

Earlier this year, HashKey Group raised a $360 million new blockchain fund. It has invested in prominent projects from the Polkadot blockchain to decentralized exchange dYdX.

Hong Kong Regulation Asia

Xinyi Luo

Xinyi Luo, a financial reporter with a background in broadcast journalism, joined CoinDesk Layer 2's team as a features and opinion intern in June 2022. She is a graduate of Missouri School of Journalism. You can connect with her on Twitter @luo_trista. She does not currently hold any cryptocurrencies.