3 - 5 minute read
Providing investors with greater access to virtual assets has become increasingly popular in recent years. As the digital asset sector grows, it is no surprise that more firms are seeking to expand their offerings. One such firm is digital asset service provider HashKey Group, based in Hong Kong. HashKey recently announced its entry into the wealth management sector aimed toward professional and institutional investors.
CEO of the group’s venture capital arm, HashKey Capital, Deng Chao, noted that the launch of their new wealth management platform allows the company to offer solutions that enable the tapping of “growing opportunities of virtual assets.” Following significant demand from investors to access virtual assets, HashKey responded by launching its latest offering.
A report by consultancy firm Boston Consulting Group (BCG) in 2022 found that only 0.3% of individual wealth is invested in crypto compared to the 25% invested in equities. Nonetheless, BCG pointed to “potential robust demand for virtual assets in the future,” and it appears HashKey Group has taken note with the launch of its latest service.
HashKey Group’s venture into wealth management followed the acquisition of a “Type 9 asset management license” by the Hong Kong Securities and Futures Commission in September 2022, allowing HashKey to manage portfolios that only contain virtual assets. With this latest offering, HashKey is expanding its over-the-counter trading service, increasing its liquidity coverage to 24/7, and expanding its spot market with additional tokens.
HashKey’s foray into wealth management provides an opportunity for traders to gain from this fast-growing sector. This opportunity is highlighted by a report titled “What Does the Future Hold for Crypto Exchanges_Eng_Jul 2022” by BCG, which predicts that by 2030, crypto will have a billion users. Therefore, investors that take advantage of the growing popularity of virtual assets can significantly benefit from the potential growth of this sector.
According to HashKey, recent challenges in the crypto market have highlighted the need for deep and reliable liquidity; therefore, the ability to access virtual assets is becoming increasingly important. HashKey’s foray into this area will provide traders with a platform to access a range of opportunities, significantly improving their chances of profiting from the increase in virtual asset investments.
The wealth management service provided by HashKey comes after a successful $500m investment round to push blockchain and crypto technologies, building and scaling the Web3 ecosystem. The continued success of the digital asset space highlights the potential for increased growth and demand for virtual assets, creating promising opportunities for traders to explore.
The Bottom Line
HashKey Group’s foray into the wealth management sector has opened up opportunities for traders seeking to gain exposure to lucrative virtual assets. With the growing popularity of digital assets and significant investment opportunities surrounding this sector, it’s an excellent time for traders to start exploring the potential of virtual assets. As the digital asset industry is projected to have a big role in the future of finance, traders stand to gain by investing in this expanding sector.
