MaiCapital has received a license from the Securities and Futures Commission (SFC) in Hong Kong to give the virtual assets manager the power to manage portfolios containing up to 100 percent virtual assets.
MaiCapital had been operating under the Type 4 and Type 9 licenses from the SFC since 2018. The licenses permitted MaiCapital to advise on securities and grant authority to function as an asset manager, respectively.
Through these licenses, MaiCapital has been actively managing two blockchain-themed hedge funds that have grown their total AUM by more than 20 times since 2019.
In addition to receiving approval, MaiCapital was able to secure Walthking Investment as a shareholder and investor in the MaiCapital group.
MaiCapital has big goals for the future, including expanding its virtual asset fund products and regulated crypto services to investors all over the world, as well as growing its current business to over $200 million.
“With the SFC’s extended permission, MaiCapital will be able to offer even more innovative investment products and services to professional and institutional clients.”
Wealthking’s Chairman, Liu Zhiwei, stated, “Wealthking firmly believes in the development potential of Blockchain technology and the digital economy, and has invested substantially in these sectors for the past few years.”
“The next stage will be to maximize our skills in order to assist MaiCapital in reaching new heights.”
According to MaiCapital, the 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 the management of its blockchain-themed funds, the company further stated that it exclusively works with licensed exchanges and custodians.
“MaiCapital has always prided itself in its ability to invest in the nascent cryptocurrency asset class with the highest compliance standards and an unyielding focus to protect the interests of investors,” said MaiCapital’s CEO, Benedict Ho.
