Xinhuo Asset Management's application for No. 1 license and upgrade to No. 4 license were approved, and it will focus on structured products
Xinhuo Technology Holdings Limited (1611.HK) announced that its subsidiary, Xinhuo Asset Management (Hong Kong) Limited (Xinhuo Asset Management), has been approved for the Hong Kong Securities and Futures Commission's Type 1 (Dealing in Securities) license application and Type 4 (Advising on Securities) license upgrade. Xinhuo Asset Management will add business to distribute virtual asset (VA) related products to professional investors, including but not limited to VA funds, Bitcoin and Ethereum ETFs and VA structured products. At the same time, as a holder of Type 4 license, Xinhuo Asset Management has further been approved to provide virtual asset advisory services under Type 4 license.
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