HashKey Capital can now manage a 100% crypto portfolio in Hong Kong after a fresh approval

The Securities and Futures Commission (SFC) of Hong Kong granted permission to HashKey Capital Limited, the investment division of the finance company HashKey Group, to manage a portfolio that entirely has digital assets.

A recent press release reveals that HashKey Capital Limited has received an improvement to its Type 9 asset management license from Hong Kong’s top financial watchdog, the SFC. The approval allows the firm to manage funds that invest 100% of their portfolios in crypto in compliance with native regulatory requirements.

HashKey Capital Limited became one of the few businesses having a licence to offer services for digital assets in Hong Kong as a result of the initiative. Other such companies include the cryptocurrency exchange Huobi and the hedge fund manager MaiCapital Limited, which focuses on blockchain investments.

Chairman Dr. Xiao Feng commented on HashKey’s clearance by stating that his company supports the crypto industry and is committed to its growth. He added:

“This Type 9 license uplift reinforces our commitment to fostering and advancing the blockchain community in Hong Kong and across Asia.”

The parent company, HashKey Group, has developed an ecosystem over the recent years that links Web3 developers and communities that share “the same vision for building a fair, sustainable environment in support of the long-term growth of the blockchain and cryptocurrency industries,” as well as its desire to work with financial regulators and their standards.

Hong Kong is the world’s most crypto-ready nation

The approval from the authorities strengthened the recent pro-crypto position taken by the Chinese special administrative zone. Speaking of China’s autonomous special administrative region, it’s important to note that it came in first place globally for being the most crypto-ready nation.

Hong Kong outperformed the previous top, the United States of America, earning 8.6 out of 10 points. Switzerland comes in third after Hong Kong and the United States, with Georgia and the United Arab Emirates coming in fourth and fifth, respectively.