Singapore-Headquartered QuantBroker Crypto Broker Expands Operations into Hong Kong
QuantBroker, a fast-rising Singapore-headquartered, but global trading crypto-oriented brokerage firm has ventured into the autonomous Hong Kong market. The firm, whose major focus is the crypto-asset funds, just opened a new branch in the area.
This broker, through their order routing and executing algorithm, mainly serves as a platform for the custody and settlement of cryptocurrency asset funds. It provides contracts for CFDs, besides a couple of services. Ideally, it is known as an asset management platform and also offer digital wallet services, a host of insurance services as well as being an investment banker.
The company’s launch of the Center in Hong Kong is in line with its motive to continue expanding globally. QuantBroker is looking to further underpin its quest to be a one-stop smart broker for crypto investors across the planet. And it will be looking to attract the vibrant crypto-enthusiasts in this southeastern Chinese city.
The new office, according to the Press Release, will be found right at the heart of a fast-growing business district, at an area called East Kowloon. It is an area that houses the FT Life Tower, Exchange Tower, and MegaBox, besides being Hong Kong’s de facto innovation hub.
All the five staff members the new facility will employ will be individuals with the first-hand experience in legal, financial, tech and communications. Further, the five will be masters and Ph.D. degree holders, drawn from world-famous institutions. The number will, however, rise to more than 20 once the branch firmly establishes its footing.
However, QuantBroker is strategically using this new branch to tap into the region’s crypto brokerage infrastructure and revamp it. Once done building the infrastructure, it will embark on another 4-year process of this brokerage firm transforming into a ‘decentralized autonomous organization,’ or simply DAO.
Hong Kong is set to amend its Cryptocurrency Laws
QuantBroker has been doing well, having emerged from the 2018 crypto bear market with 55.2% gains on its flagship quant-trading product traded through arbitrage portfolio models. It was established in 2017, but has tremendously grown. The company’s current assets stand at around 5,000 BTC and a further 10,000 BTC in its assets management portfolio.
It will, however, have to put up with Hong Kong’s plans to expand its regulatory structure and effectively protect crypto investors.
The country’s Futures and Securities Commission (FSC) will broaden its reach and subsequently issue licenses to cryptocurrency investment funds as well. It is a new paradigm which will also touch on exchange platforms, although it remains to be seen how the regulator will carry out its role.