MaiCapital crypto fund gets green light from Hong Kong regulator

Hong KongHong Kong-based asset manager MaiCapital has secured approval from the Hong Kong Securities and Futures Commission (SFC) to manage portfolios comprised wholly of virtual assets. The firm had been given initial licenses from the SFC back in 2018 that enabled it to operate two actively-managed blockchain-themed hedge funds. The latest approval will enable it to significantly extend the crypto elements within its portfolio. MaiCapital has also secured the backing of fellow Hong Kong-based Wealthking Investment as a new shareholder and investor. “Wealthking firmly believes in the development potential of blockchain technology plus digital economy and has invested heavily in these areas for the past few years. The next step will be to optimally utilise our strengths to help MaiCapital reach greater heights,” said chairman of Wealthking Liu Zhiwei The funding and the extended regulatory approval will be used to expand MaiCapital’s virtual fund products and crypto services. According to a statement, MaiCapital is looking to grow its institutional crypto business to more than US$200 million in assets under management. © 2022 funds global asia

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