2021-3-5 22:22 |
Huobi Technology Holdings, an investment holding company, based in Hong Kong, is pushing towards its goal of establishing itself as Asia’s premier crypto exchange with its latest regulatory approval.
Huobi Goes All In On Asset ManagementThe company, which was acquired from Pantronics Holding Limited by current CEO and Chairman of the board Li Lin, announced that its asset management arm had received regulatory clearance to operate a digital assets platform in Hong Kong.
Huobi Asset Management cleared the regulatory milestone set by the Hong Kong Securities and Futures Commission (SFC). The asset management arm would be solely focused on virtual currencies.
Huobi Asset Management is expected to launch a flurry of products, including a Bitcoin tracker fund, an Ethereum-focused fund, and a multi-strategy digital asset fund that would manage investment portfolios focused on cryptocurrencies.
The British Virgin Islands incorporated company said a multi-asset fund would also be in the books. This will see it split 10% of its revenue into digital assets and 90% into equity and fixed income. Huobi says investors will be able to subscribe to its services with cash and with digital assets.
Foremost blockchain Chinese blogger Colin Wu applauded the tech giant’s entry, saying that this will serve to encourage Asian investors to consider making a stake in the burgeoning industry.
This latest addition to the management company follows its “Type 4” and “Type 9” licenses in 2020. The Type 4 license has seen it recognized as an investment adviser, and the Type 9 license further recognized the company as an asset manager.
Huobi Eyes GBTC’s Crypto ModelHuobi had previously seen its operations in the US come to an infamous end in 2019. Huobi said in a press release that the unfavorable crypto environment of the United States played a role in its decision to leave the North American nation.
Even though its global presence seemed to have stagnated, Huobi has been making strategic investments and opened a Huobi Argentina platform to service the Argentinian public in 2019. This was executed from their Huobi Cloud platform. Huobi said at the time that support for fiat-to-cryptocurrency was still in the works. Still, customers will be able to easily exchange their digital assets through their over-the-counter platform.
In December 2020, the company made another foray again into the US markets, this time with the hopes of establishing a trust fund. According to Lan Jianzhong, the company had received a Trust Company License from the Financial Institutions Division of the Department of Business and Industry in Nevada, US.
Jianzhong, however, stated that the trust fund was not yet in operation, and the investing public should be cautious about any contrary opinion.
The post Huobi Crypto Asset Management Gets Clearance to Launch BTC & ETH Funds in Hong Kong first appeared on BitcoinExchangeGuide.Similar to Notcoin - TapSwap on Solana Airdrops In 2024
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