HashKey is looking to attract both private and institutional investors with its newly-launched platform.
Digital asset firm HashKey Group has added wealth management services to its list of offerings. The Hong Kong-based firm shared the development via a Friday, April 14 announcement. Per the announcement, there is presently a high demand for wealth management services. Therefore, HashKey is looking to attract both private and institutional investors with its newly-launched platform. Part of the statement reads:
“Despite recent market volatility, there is a significant demand from investors to access virtual assets.”
HashKey Seeks to Key into the Robust Future of Virtual Assets
Recall that HashKey recently bagged a “Type 9 asset management license” from Hong Kong’s Securities and Futures Commission (SFC). And getting approval from the top regulator may have encouraged its latest move into the wealth management space.
As the CEO of HashKey Capital – the group’s venture capital arm – Deng Chao suggests, there is a vast amount of opportunities linked with virtual assets. More importantly, the said opportunities are growing by the day, noted Chao.
Interestingly, a 2022 study by consultancy firm Boston Consulting Group (BSG) shares the same sentiment as Chao and HashKey. The study found a massive difference in the amount of individual wealth that is invested in crypto as opposed to what is invested in equities. BSG found that crypto investments only saw 0.3% of individual wealth compared to the 25% enjoyed by equity investments.
According to the report, BSG believes that the numbers might be in favor of crypto. It claims that the little number signals that there is a “potential robust demand” lying in wait for virtual assets soon.
Unveils Other Plans
Meanwhile, HashKey also shared some other updates in its latest announcement. The asset manager admitted that the crypto market has been in a sorry state recently, necessitating the need for “deep and reliable liquidity.”
To this end, HashKey has moved to expand its over-the-counter (OTC) trading service by increasing the number of tokens in its spot market. The firm has also increased its liquidity coverage, which is now round-the-clock.
As of publication, efforts to get HashKey to comment on the situation have proved futile.