Crypto Firm QuantBroker Opens New Office in Hong Kong

QuantBroker offers a platform for crypto-asset funds through its proprietary order routing and executing algorithm.

A lesser-known cryptocurrency broker called QuantBroker has announced it is opening a new branch in Hong Kong, according to a corporate press release.

QuantBroker offers a platform for crypto-asset funds which are custodied and settled through its proprietary order routing and executing algorithm. The Singapore-headquartered broker also offers contracts for difference (CFDs), asset management services, digital wallet services, insurance services, investment banking business, and social network services.

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The new office employs five staff members who cover legal, financial and communication technology areas, but QuantBroker says it plans to expand the headcount to over 20 workers in the coming year.

The launch into the new terrain will initially see QuantBroker focusing on building a crypto brokerage infrastructure, while the second stage will take another four years, in which the company will transform to a decentralized autonomous organization (DAO).

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Further elaborating on their plans, QuantBroker said: “During the crypto bear market in 2018, QuantBroker’s flagship quant-trading product realised gains of 55.2% through arbitrage portfolio models, while the maximum drawdown was less than 1%. QuantBroker’s current assets under management (AUM) is around 5,000 BTC, with capacity of assets management at 10,000 BTC. QuantBroker stepped into crypto trading world in November 2017 and from then on has released 15 high frequency, market making, interest arbitrage and mixed fund products.”

Hong Kong regulators have been recently keen to create an expanded regulatory framework for cryptocurrency exchange platforms as the FSC wishes to offer more robust investor protection.

Part of their proposed paradigm are plans to issue licenses to cryptocurrency funds as the SFC’s mandate only covers assets that qualify as futures contracts or securities. As such, the watchdog plans to license all such funds, whether the crypto portfolios being managed are securities/futures contracts or not.

The SFC is also looking at exchange platforms as the regulator wants to examine whether exchanges should fall under their mandate. To this end, the commission plans to see how well such platforms respond to its regulatory provisions.

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