HashKey Capital Launches New Cryptocurrency Fund on Secondary Market
HashKey Capital, the first licensed cryptocurrency exchange in Hong Kong, has announced the launch of a new cryptocurrency fund on the secondary market.
The fund will use a large portion of its assets to invest in the cryptocurrency industry, targeting various cryptocurrencies. According to one report, the company has insured several potential Asian high-net-worth individuals and companies.
The company’s portfolio manager, Jupiter Zheng Jialiang, said the company will seek to raise $100 million for its fund over a 12-month period. Cheng Jialiang added that the fund will invest in top-tier cryptocurrencies such as Bitcoin and some altcoins.
HashKey exchange development in Hong Kong
HashKey Exchange is the first licensed retail virtual asset exchange in Hong Kong. It officially began operations with a grand launch event that brought together representatives from the Hong Kong government, central banking institutions, insurance companies, and the four major auditing firms.
The exchange offers direct bank transfers in US dollars and Hong Kong dollars and supports cryptocurrencies. It runs on the “HEX Engine” which is designed to handle up to 5000 transactions per second (TPS). HashKey Exchange initially focused on Bitcoin (BTC) and Ethereum (ETH) due to their large trading and low risk.
However, the exchange has expressed intentions to expand its offerings in the future, including the possibility of providing margin products and derivatives pending SEC approval.
HashKey Exchange actively works with major banks in Hong Kong to facilitate the integration of fiat currencies, HKD and USD. In addition, the exchange is in discussions with Hong Kong-based brokerage firms to develop entry points for cryptocurrency trading services. To ensure a safe and reliable trading environment, HashKey Exchange plans to implement an investor rating system that uses Know Your Customer (KYC) procedures to evaluate the investor experience.