Xinhuo Asset Management has been approved by the Hong Kong Securities Regulatory Commission for Type 1 and Type 4 licenses

According to Wu Shuo, Xinhuo Asset Management (Hong Kong) Co., Ltd. announced that it has obtained approval from the Hong Kong Securities and Futures Commission for its application for License No. 1 (Securities Trading) and upgrade to License No. 4 (Providing Opinions on Securities).

Xinhuo Asset Management became one of the first institutions in the market to obtain multiple licenses including No. 1, No. 4 and No. 9.

In addition to the existing compliant virtual asset fund business under License No. 9, Xinhuo Asset Management will add the business of distributing virtual asset (VA) related products to PIs.