MaiCapital Limited, based in Hong Kong, announced on Tuesday that it has received approval from the local Securities and Futures Commission (SFC) to fully manage crypto asset portfolios.
According to MaiCapital’s announcement, the approval gives the SFC-licensed blockchain and virtual assets manager the authority to manage portfolios containing up to 100 percent virtual assets.
MaiCapital had been using the SFC’s Type 4 and Type 9 license prior to receiving approval. The license allowed the company to advise on securities and act as an asset manager, respectively, and MaiCapital has been operating two actively managed blockchain-themed hedge funds with more than a 20-fold increase in total AUM since 2019.
Along with the approval, MaiCapital was able to secure Walthking Investment as a shareholder and investor in the MaiCapital group.
MaiCapital intends to broaden its services of virtual asset fund products and regulated crypto services to investors worldwide in the future, while also aiming to grow its intentional business to more than USD200 million.
“With the SFC’s expanded approval, MaiCapital is on an even faster track to bring more innovative investment products and services to professional and institutional investors. Wealthking is a firm believer in the development potential of Blockchain technology and the digital economy, and has made significant investments in these areas in recent years,” said Liu Zhiwei, Chairman of Wealthking.
According to MaiCapital, its Blockchain Opportunity Fund is the first virtual asset-themed fund managed by an SFC-licensed manager with a track record of more than three years.
In addition, the company has stated that it only works with regulated exchanges and custodians to manage its blockchain-themed funds.
“MaiCapital has always taken pride in its ability to invest in the nascent cryptocurrency asset class with the highest compliance standards and an unwavering focus on protecting the interests of investors,” said Benedict Ho, CEO of MaiCapital.
