EQS Newswire / 2022/12/28 / 10:24 UTC+8
New Huo Tech Launches DeFi and Metaverse Themed Investments
[December 23, 2022, Hong Kong]New Huo Technology Holdings Limited (“New Huo Tech”, stock code 1611.HK) today announced that New Huo Asset Management (Hong Kong) Limited (“NH Asset”), a licensed compliance fund manager, has partnered with Coinbase We will announce that , the world’s largest regulated cryptocurrency exchange, will become one of the first licensed asset managers in Hong Kong to provide professional investors with voluntary account management services for crypto assets.(As defined in the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and its subsidiary laws.)Going forward, NH Assets can act as an investment manager for professional investors to manage their crypto asset trading accounts on Coinbase.
Tony Luk, Head of Investment Solutions at NH Asset Management, said: However, most of the traditional fund products currently available in the market have an indirect investment nature and carry high administrative costs that usually discourage participation by professional investors. Leveraging our understanding and expertise in the crypto-asset industry along with our commitment to compliance, the launch of discretionary management account services for crypto-assets will enable investors to enter the crypto-asset market more efficiently and directly. I’m sure. Reduced administrative costs.
With the continuous industry development of the virtual asset market, there is an increasing demand for professional institutions with the ability and ability to offer highly secure and diversified investment products. However, there are no such institutions on the market at the moment, and there are serious loopholes. As a licensed asset manager, NH Assets complies with the “Pro Forma Terms and Conditions for Licensed Companies Managing Portfolios Investing in Virtual Assets” issued by the Securities and Futures Commission (SFC) on October 4, 2019. (“T&C”) strictly. Rules.
NH Asset General Manager Vivien Wong said: We conduct rigorous due diligence to ensure that our various trading partners meet relevant regulations and standards. At the same time, NH Assets has developed a comprehensive internal control system to ensure that access to trading systems and asset transfers of accounts are strictly controlled and monitored. In addition, NH Asset leverages its own superior investment risk management system to set investment rules and limits tailored to investors according to their experience and risk appetite, providing 24/7 access to Monitor and protect investor assets.
NH Assets is the first HKSFC licensed virtual asset manager approved to actively manage a virtual asset fund. We focus on providing regulated, institutional-level virtual asset management services with diverse and customized investment products. We believe that this product enhancement will further improve our overall investment platform to meet the needs of investors with different risk preferences and better bridge the gap between crypto and traditional assets.
About New Phototech
New Huo Technology Holdings Limited (“New Huo Tech”, Stock Code: 1611.HK) is a leading one-stop cryptocurrency service platform. We are committed to bringing traditional finance into the world of crypto assets with professional, compliant, secure and efficient services. Currently, the company’s services cover SaaS, virtual asset management, custody, OTC, lending, trading platform and strategic investment.
New Huo Tech has a strong view on the importance of compliance. We are actively applying for several crypto-asset and financial related licenses in major global markets. To date, New Huo Tech’s subsidiary has successfully acquired:d The Futures Commission of Hong Kong conducts Type 4 (Securities Advice) and Type 9 (Asset Management) regulatory activities and manages portfolios that are 100% invested in crypto assets. (ii) registered as a Trust or Company Service Provider (“TCSP”) License (Hong Kong) and registered as a Trust Company in Hong Kong;;(iii) Registered Money Services Business (MSB) with the U.S. Financial Crimes Enforcement Network (FinCEN); (iv) Registered Money Services Business (MSB) from the Financial Transactions and Reports Analysis Center (FINTRAC) of Canada.
Dissemination of a financial press release sent by EQS News on December 28, 2022.
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