Hang Feng Subsidiary Gains SFC Approval for Virtual Asset Advisory and Management

Source: DefiPlanet Original Title: Hang Feng Subsidiary Gains SFC Approval for Virtual Asset Advisory and Management Original Link:

Quick Breakdown

• HFIAM received SFC approval to provide virtual asset advisory and manage portfolios for professional investors.
• The upgrade allows management of standalone virtual asset funds with over 10% crypto exposure.
• Hang Feng aims to expand digital asset offerings, bridging traditional finance and blockchain solutions.

Hang Feng Technology Innovation Co., Ltd. (NASDAQ: FOFO) announced that its subsidiary, Hang Feng International Asset Management Limited (HFIAM), has received approval from the Hong Kong Securities and Futures Commission (SFC) to offer virtual asset advisory and management services. The upgrade expands HFIAM’s existing Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses to include professional investor-focused virtual asset products.

Expanded virtual asset capabilities

With the new regulatory consent, HFIAM can provide investment advice on virtual assets and manage portfolios with over 10% exposure to virtual assets. The firm can also operate standalone virtual asset funds. This approval aligns with Hong Kong’s professional investor framework, ensuring compliance with SFC standards on prudence, transparency, and investor protection.

The license upgrade positions HFIAM to meet growing institutional demand for secure, regulated access to digital assets. Hang Feng’s management emphasized that this development reflects the company’s broader strategy of bridging traditional finance with blockchain innovation, allowing professional investors to navigate the digital economy safely.

Strategic expansion in digital asset management

Hang Feng views this milestone as a key step in expanding its asset management offerings and delivering enhanced long-term value to clients. The SFC approval enables the firm to accelerate its digital asset strategy, offering more sophisticated solutions and deepening its market presence.

With a strong track record in corporate consulting and asset management through subsidiaries like Starchain Investment Trading Limited, Hang Feng now integrates virtual asset management into its service portfolio, meeting evolving investor needs in Hong Kong and globally.

By entering the regulated virtual asset sector, Hang Feng strengthens its reputation as a trusted partner in professional asset management, combining traditional investment expertise with emerging blockchain technologies.

Similarly, Eddid Financial has secured SFC approval to upgrade its Type 9 license, allowing its subsidiary, Eddid Securities and Futures, to expand into full-scale digital asset management.