An asset management firm from Hong Kong is preparing to launch a cryptocurrency custody service. The Fusang Vault, as the service will be called, is the brainchild of the Fusang Investment Office.
Fusang Vault Will Provide Custody Services for High Net-Worth IndividualsThe Fusang Vault is expected to be launched in the fourth quarter of 2018. The CEO of Fusang Investment Office, Henry Chong, told the South China Morning Post of the importance of third party custodian services for cryptocurrencies.
According to the executive, such firms should be able to store assets for clients, as well as to provide auditing services. Chong told the publication:
“Digital assets are akin to bearer bonds, whereby whoever that is holding the security is presumed to be the owner and there is no registration of ownership information of the security. Hence, the way we keep digital asset secured is of paramount importance.”
Fusang Investment Office is an asset management company that largely focuses on Asian private family offices. According to its website, the firm is regulated by the Monetary Authority of Singapore (MAS) and licensed by the Securities and Futures Commission (SFC) of Hong Kong.
Read more: https://www.newsbtc.com/2018/07/23/hong-kong-asset-management-firm-preparing-to-launch-crypto-vault-for-hnwis/
