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Global digital asset and blockchain investment firm HashKey Capital has announced the acquisition of a Type 1 license from the Hong Kong Securities and Futures Commission (SFC), the company announced in a statement on Tuesday.
The newly obtained Type 1 license empowers HashKey to provide brokerage services, enabling the firm to connect traditional finance clients with regulated cryptocurrency exchanges and offer cryptocurrency-native clients access to traditional financial brokers. Furthermore, the license allows HashKey to market and distribute a variety of funds and structured products, including those specifically related to virtual assets.
This expansion complements HashKey's existing regulatory framework in Hong Kong, which includes a Type 9 license for asset management (covering both retail and institutional clients, with recent approval for discretionary virtual asset account management) and a Type 4 license for providing securities and virtual asset investment advisory services, secured in May of the previous year.
Vivien Wong, partner, Liquid Funds at HashKey, underscored the strategic importance of this development: “The Type 1 licence enhances our capabilities and provides significant value to investors,” Wong stated. “It enables us to offer a broader range of investment opportunities, catering to different risk preferences with a strong focus on risk management and long-term growth.”
The expanded service offerings will encompass three key areas: market access, investment funds, and structured products, HashKey said.
HashKey anticipates that these new services will appeal to a broad spectrum of investors, extending beyond typical retail and institutional clients to include distribution channels, family offices, and even entities such as insurance companies and endowments venturing into the cryptocurrency space for the first time.
Wong also emphasized the potential for increased financial inclusion within the cryptocurrency market. “Financial inclusion is now rarely discussed in crypto, but that is what will be created. We will open virtual assets to investors who have thus far been excluded from them due to technical or other limitations. This accessibility will help mainstream crypto in Hong Kong, accelerating its bid to be a hub for virtual assets in the region,” she said.
As one of the earliest corporate investors in Ethereum and a manager of over US$1 billion in client assets, HashKey has established itself as a key player in the industry. The firm also manages the HashKey Top 20 Index Fund and plans to introduce additional tracker funds later this year. With the authorization granted by the Type 1 license, HashKey said it intends to collaborate with leading financial institutions worldwide to bring more institutional-grade digital asset products to the market.
