On May 2024, 5, the official website of the Hong Kong Securities and Futures Commission showed that Geometry Capital (Hong Kong) Limited (hereinafter referred to as Geomoetry Capital HK), whose Chinese name is Geometry Capital (Hong Kong) Co., Ltd., has been approved by the Hong Kong Securities and Futures Commission to engage in regulated businesses 21 and 4 with virtual assets as the core. In the future, Geomoetry Capital HK can provide advice on virtual assets under the No. 9 license and manage investment portfolios that are 4% invested in virtual assets under the No. 9 license.
Hong Kong is positioned as the next generation of Web3.0 world financial center. As the regulatory framework for virtual assets matures, more and more traditional institutions are transforming and entering the market; at the same time, there is also a lack of "crypto-native" asset management and VC landing in Hong Kong and entering the compliance process. Geomoetry Capital is one of them.
The basic hub of traditional finance and virtual assets
Geometry Capital is committed to becoming a basic hub connecting the traditional asset market and the emerging digital asset market, focusing on providing professional financial services for high net worth individuals, family offices and institutions in transactions between the two major markets.
The core team of Geometry Capital has more than 20 years of investment management experience. At the same time, they have been working in the field of virtual assets for many years, which has also brought them sufficient accumulation.
With the vision of promoting technological innovation, Geometry Capital plans to launch diversified products and services in the future, including licensed and compliant crypto funds, global innovation equity funds, global new technology securities funds, crypto VC funds, and investment advisory services. After the formal approval of the regulatory authorities, Geometry Capital will start business promotion, take over the entry of "Old Money" into the virtual asset field, provide more virtual asset allocation solutions, and more professional risk management services.
Approved Hong Kong virtual asset license No. 4 and No. 9
The Hong Kong industry generally upgrades virtual asset-related businesses based on traditional No. 4 and No. 9 licenses; Geomoetry Capital adopts a different path and directly completes the application for a virtual asset license.
Regarding the successful application for the license, Geometry Capital said: "We chose to apply for a virtual asset management license in Hong Kong because Hong Kong has a complete regulatory environment for virtual asset services, which has achieved full closed-loop supervision from asset management, exchanges, custodians and even stablecoins, greatly eliminating the industry difficulty of 'moral risk'. At the same time, the Hong Kong government has been actively promoting the development of the virtual asset ecosystem, making it an ideal choice for virtual asset management. In the application for the Hong Kong license, Geometry Capital deeply felt the strict licensing procedures of the Hong Kong Securities and Futures Commission for virtual asset trading and management platforms, and also saw the professionalism, pragmatism and efficiency of the regulatory work. We firmly believe that Hong Kong will gradually become a vibrant global virtual asset center."
"The approval of the Hong Kong Securities and Futures Commission's Type 4 and Type 9 virtual asset management licenses is an important milestone in Geometry Capital's development and also marks a new stage in the company's operations. The company will adhere to the concepts of compliance, professionalism and innovation, and launch the issuance of actively managed fund products as soon as possible. It will also seize the opportunity to work with the industry to establish the Web3 Research Institute. Based on the methodology of Geometry Capital's previous research, it will provide a compliant research and exchange platform for talents in virtual asset investment and management, provide a broader growth and development stage for Chinese people in the cryptocurrency circle, and promote the sustainable and high-quality development of Hong Kong's virtual asset industry."
As more asset management companies and VCs with "crypto-native genes" enter Hong Kong, more innovations and optimizations will be generated in the field of virtual assets. Traditional finance and virtual assets will also continue to integrate deeply, giving birth to more new business models and investment opportunities, helping Hong Kong become a new generation of Web3.0 global financial center.
Source: Bailu Living Room
Article author: Bowen