HashKey Capital Announces Release of New Secondary Market Encryption Box
HashKey Capital, the first licensed crypto exchange in Hong Kong, has announced the release of a new secondary market encryption box.
Fund will use a big part of its assets to invest in the cryptocurrency industry, targeting various cryptocurrencies. According to the report, the company has obtained many high potential net-worth Asian individuals and companies.
The company’s portfolio manager, Jupiter Zheng Jialiang, explained that the company will seek to raise $100 million for her box over 12 months. Cheng Jialiang added that the fund will invest in first-class cryptocurrencies like 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 started operations with a grand launch event which brought together representatives from the Hong Kong government, central banking institutions, insurance companies, and the Big Four auditing firms.
The direct exchange offers bank transfers in US dollars and Hong Kong support for digital currencies. They work on a “six engine” designed to process up to 5,000 transactions per second (TPS). HashKey Exchange focused initially on Bitcoin (BTC) and Ethereum (ETH) due to their large and lower trading volume risk.
However, the exchange has expressed intentions to expand its offerings in the future, including the probability of providing margin and derivative products pending the approval of the Financial Supervision Committee.
HashKey Exchange is actively involved with major banks in Hong Kong to facilitate the integration of fiat currencies, HKD and US dollars. In addition, the exchange is in discussions with brokerage firms in Hong Kong to develop entry points for their own encryption trading services. They aim to ensure a safe and reliable trading environment and plan to implement the investor classification system that uses Know Your Customer (KYC) procedures for investor evaluation experience.
