Hong Kong VMS Group Family Office Foray Crypto

The Hong Kong Multi-Rodin Office, which manages money for some of the richest families in the city, is reported to start the crypto industry for the first time.

A company that has 4 billion dollars is trying to invest up to $ 10 million in Capital Strategies Re7, Bloomberg reported Monday. However, the size of the allocation has not yet been completed.

“The decision is part of the recent movements of VMS to diversify into more liquid investment,” said VMS Group partner Elton Cheung Bloomberg.

Cheung continued to claim that while the company has made considerable profits in private capital and other long -term investments, it is harder for the company to leave such investments, as more and more companies will decide to remain private for a longer period of time.

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The VMS Group quoted increasing demand and regulatory environment that changes favorable as the reasons behind movement.

“We thought it was the right time because of growing demand and because we see clearer legislative and government support from various jurisdictions, as well as great institutional support and approval,” Cheung said.

In particular, the VMS Group decided to invest indirectly through the RE7 capital instead of direct investing in the digital assets themselves. Re7 Capital is an investment company for digital assets that focuses on generating revenue through Defi and other crypto strategies.

Cointlegraph addressed the VMS group, but at the time of publication he did not receive an answer.

Releasing regulation

Hong Kong recently took regulatory steps to support crypto innovations in the region.

At the beginning of this month, the Hong Kong government allegedly used Interoperability protocol across Chainlink chains to explore opportunities for its Central Bank’s digital currency initiative.

4th June Hong Kong regulators allowed professional investors Trade crypto derivatives As part of your plan to expand products to such investors.

In May, the Hong Kong Legislative Council approved the bill to allow this to allow Companies to publish Stablecoins By the end of the year supported by Fiat currencies.

Hong Kong companies accumulate crypto

Hong Kong companies have already begun to add crypto to their treasury.

Last week, MEMESTRAGY, an investment company managed by 9gago became the first publicly traded company in the region Invest in Solany. The company bought more than 2,400 SOL tokens for $ 368,000.

Meanwhile, in May, selling for Heat and Eat Meal DDC Enterprise bought 21 BTC as part of its wider strategy for Accumulate 5,000 bitcoins Over the next three years.

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