According to the South China Morning Post reported on July 22, Fusang Investment Co., Ltd. , which specializes in providing services to the family office  , is planning to launch cryptocurrency hosting services in Hong Kong.
Translated from www.8btc.com
According to company CEO Henry Chong, the hosted service Fusang Vault will hold digital assets for customers and conduct regular audits. The service is scheduled to be launched in the fourth quarter of 2018.
Comparing digital assets with financial bonds, Chong said that customers' demand for encrypted asset custody services is increasing , just as investors' demand for escrow banking services in traditional finance.
Chong emphasizes that encrypted hosting services are “critical” because of the lack of registration of ownership data when holding digital assets :
“Digital assets are similar to bearer bonds, where the person holding the securities is considered the owner and there is no registration information for the ownership of the securities. Therefore, the way we safely keep digital assets is critical.”
The CEO of Fuso Inc. added that the company has partnered with insurance companies to protect customers' digital assets without specifying the characteristics of Fusang Vault.
According to the instructions on its website, Fuso Investment Co., Ltd. is regulated by the Monetary Authority of Singapore and is licensed by the Securities and Futures Commission of Hong Kong.
In early July, Coinbase, one of the world's largest cryptocurrency exchanges, launched an encrypted hosting solution for institutional customers. Coinbase Custody is operated by an independent member of the Financial Industry Regulatory Authority (FINRA) and is compliant with the US Securities and Exchange Commission (SEC).
There are indications that the landing of hosting solutions is a sign that more institutional investors are entering the market.
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- The Family Office is a multi-funded family that provides a full range of wealth management and family services to enable the long-term development of its assets to meet family expectations and expectations, and to enable its assets to successfully carry out intergenerational inheritance and value-added institutions. ↵
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