HashKey Capital, the first licensed crypto exchange in Hong Kong, has announced the release of a new secondary market encryption box.

Fund will use a big part of its assets to invest in the cryptocurrency industry, targeting various cryptocurrencies. According to the report, the company has obtained many high potential net-worth Asian individuals and companies.

The company’s portfolio manager, Jupiter Zheng Jialiang, explained that the company will seek to raise $100 million for her box over 12 months. Cheng Jialiang added that the fund will invest in first-class cryptocurrencies like Bitcoin and some altcoins.

HashKey Exchange Development in Hong Kong

HashKey Exchange is the first licensed retail virtual asset exchange in Hong Kong. It officially started operations with a grand launch event which brought together representatives from the Hong Kong government, central banking institutions, insurance companies, and the Big Four auditing firms.

Direct exchange offers bank transfers in US dollar and Hong Kong support for digital currencies. It works on a “six engine” designed to handle up to 5,000 transactions per second (TPS). HashKey Exchange focused in the beginning on Bitcoin (BTC) and Ethereum (ETH) due to their large and lower trading volumes risk.

However, the exchange has expressed intentions to expand its offerings in the future, including the probability of provision of margin and derivative products pending the approval of the Financial Supervision Committee.

HashKey Exchange is actively involved with major banks in Hong Kong to facilitate the integration of fiat currencies, HKD and US dollars. In addition, the exchange is in discussions with brokerage firms in Hong Kong for the development of its own encryption trading services to ensure a safe and reliable trading environment. HashKey Exchange plans to implement an investor classification system that uses Know Your Customer (KYC) procedures for investor evaluation experience.