MaiCapital Gets Hong Kong SFC’s Nod to Manage 100% Digital Asset Funds

Hong Kong-based MaiCapital Limited, which is a blockchain and virtual asset manager, has secured approval from the local financial market supervisor, the Securities and Futures Commission (SFC), that will allow the company to manage assets with 100 percent virtual assets.

Until now, the company operated with SFC’s Type 4 and Type 9 licenses, which it obtained in 2018. The first allows the company to advise on securities, while the second grants permission to act as an asset manager.

Announced on Tuesday, the company also brought in Wealthking Investment as an investor and shareholder.

“With the extended approval from SFC, MaiCapital is on an even greater trajectory to bring more innovative investment products and services to professional and institutional investors,” said Liu Zhiwei, the Chairman of Wealthking.

Actively Managed Crypto Funds

MaiCapital has been operating two actively managed blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-themed hedge funds since 2019, receiving investments only from institutions and qualified professional investors. According to the company, the latest SFC approval will allow it to deploy crypto investment strategies with greater flexibility.

MaiCapital’s CEO, Benedict Ho said: “MaiCapital has always prided itself in its ability to invest in the nascent cryptocurrency asset class with the highest compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term standards and an unyielding focus to protect the interests of investors.”

In addition, the Hong Kong asset manager highlighted that it only partners with regulated digital asset exchanges and venues for its hedge funds. Two of its partners are Coinbase and OSL.

“It is so exciting to be working with MaiCapital and to provide access to our comprehensive suite of products and services including custody, prime brokerage, trading tools and analytics, and an enterprise infrastructure built on top of a robust security platform,” said Coinbase’s APAC Institutional Sales Head, Kayvon Pirestani.