This week Huobi Asset Management (Hong Kong) Limited announced that it has been granted two licences by the Securities and Futures Commission (SFC). The licences will allow it to provide asset management services and advise on securities.
The asset management subsidiary of Huobi Technology Holdings Limited was granted a Type 4 (advising on securities) and a Type 9 (asset management) licence on 31st July 2020.
Huobi Asset Management to Expand to Virtual Assets
Now that the company has secured the licences from the Hong Kong regulator, it will focus on providing a securities advisory service and asset management services to professional investors. The firm’s long-term vision is to create an integrated financial service platform that will provide both traditional and virtual assets.
Commenting on the announcement, Elaine Sun, the Compliance Director of Huobi Tech said in the statement: “We are delighted to get licensed and it marks a good start for the Company to provide professional asset management services.
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“The Asset Management arm is led by a team of investment professionals with extensive traditional securities investment experience and fruitful knowledge in blockchain and the virtual asset industry.
“As a fully compliant trusted platform we are confident that the Company could bridge the gap between traditional and virtual asset class investments and offer integrated solutions to our professional investors.”
Huobi Tech, the parent company of Huobi Asset Management, is headquartered in Hong Kong. Primarily, it provides OEM & EMS manufacturing of power-related and electronic products. Currently, it is expanding its technology reach to focus on blockchain applications.
Huobi Tech is the subsidiary of Huobi Global Limited, a Singapore-based cryptocurrency exchange. As Finance Magnates reported recently, the exchange plans to launch Bitcoin options, trading in the third quarter of 2020.
Specifically, the leading cryptocurrency exchange is going to add the new derivatives instrument on its existing futures platform, offering perpetual contracts.