RATE Group | Cryptocurrency Custodian Invault Launches Its Services in Hongkong
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Cryptocurrency Custodian Invault Launches Its Services in Hongkong

26 Nov Cryptocurrency Custodian Invault Launches Its Services in Hongkong

Posted at 10:10h in Cryptocurrency News by

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Security and transparency are at the core in crypto space. Since Hong Kong strictly warn crypto firms to protect their virtual asset, profitable opportunities for custodian firms are likely coming up. InVault, a crypto startup based in Shanghai is launching its crypto custodian services in Hong Kong. The initiative is more likely to get benefited from the SFC’s new rules. Releasing on early November, Securities and Futures Commission (SFC) in Hong Kong has issued new licensing regime that demands exchanges and fund managers to ensure their crypto assets.

Hong Kong Securities and Futures Commission (SFC) stated;

The SFC generally expects that the insurance policy would provide full coverage for virtual assets held by a Platform Operator in hot storage and a substantial coverage for those held in cold storage (for instance, 95%).

Hong Kong – A potential Region for InVault Custody Service

InVault has already reached 1 million Ethereum under custody in mainland China. Accordingly,…

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