The maturation in the trading prices of cryptocurrencies seems to be helping the involved companies to expand their services in different parts of the world. According to a most recent blog post of Hashkey Capital, it has gained discretionary account management services approval from the Securities and Futures Commission of Hong Kong.
With this approval, Hashkey Capital can now manage tailored investment products including spot crypto investment and derivatives.
After this licensing, Vivien Wong, Partner, Liquid Funds said “ Investors have historically been cautious about entering the virtual asset space due to the associated risks, with our discretionary account management services, we provide clients with the confidence to explore this sector, backed by the expertise of industry professionals managing their portfolios in alignment with their investment mandates.”
What is Discretionary account management?
‘Discretionary account management,’ is a concept in which an asset management firm or a professional investment firm is hired by investors, letting them buy, sell, or allocate the holdings without any direct approval for each trade from the investors.
Yet the concept is not widely opted as the management fees sometimes exceed the profits of the investors. It is worth noting that there is documentation work that is carried out before giving access to the funds to the managers.
Hong Kong approaching the crown of the Crypto hub
After the victory of Donald Trump in the 47th election several nations have called for reconsideration of rules and regulations for the cryptocurrencies, and tax imposed. Yet Hong Kong stands out as it has been working to structure a favorable environment for crypto, with rules that help both companies and investors to keep them safe.
Several known companies have moved toward HK to establish their workplace in the region to cater masses with better features and services. Till writing there was no capital gain taxes on individual investors.
Statista data says that the total revenue per user in Hong Kong was $181.4 in 2024, which is expected to decline and reach $174.9 in 2025. The reported revenue of 86 percent in 2024 was greater than the revenue of 2023, but it is expected to fall by 3.56 percent in the current year.
On January 07, 2024, Todayq reported that Hong Kong’s Central Bank has announced plans to help banks adopt disturbed ledger technology, in order to meet the trends of the evolving finance market.
“As the banking industry continues to evolve, it is essential that we provide a supportive environment for innovation to thrive,” Arthur Yean the chief executive of the bank said.
In October 2024 it was also reported that, had discussed several factors concerning crypto border payments. In the coming time, several joint ventures are expected between the crypto hubs such as Singapore, UAE, and Hong Kong including a few others.
