Cryptocurrency

Aegis Custody Gets Trust Company License in Hong Kong

Aegis Custody Company Limited, widely referred to as Aegis Custody, has received a coveted license as the Trust Company for their business of digital asset custody. The license has been permitted by the Hong Kong Companies Registry of Trust and Company Services Providers. The company made an official announcement on 29th July through a press release.

Serra Wei, the Founder-CEO of Aegis, considered this to be a huge milestone for their company as it will let them offer their services and products to the global institutional investors. Continuing further, Wei said that through their business in Hong Kong, they’ll be capable of servicing customers with a keen interest in the upcoming economy of digital assets on an international level. They will also continue with their license application in the US of a Qualified Custodian, added Wei. Other than that, Wei also expressed gratitude towards the Aegis team, their investors, and Hong Kong’s progressive regulators for taking this forward step in the fintech industry’s development in this space.

It is important to note that incidents such as cybersecurity attacks, human errors, and internal thefts have contributed to the loss of assets worth over $2 billion in the last five years. Absence of trusted regulated custodians is one of the primary reasons why the industry of digital assets management has not flourished. However, there are hot wallets as well as cold storage solutions, but they fail to provide sufficient security. Also, the institutional investors ask for regulated 3rd party custodians when it comes to advanced protection, recovery plans, and management of private keys for their customers’ digital assets.

Aegis Custody has developed Aegis Pen, which is a distributed hardware device with a system that manages transactions, custom made to the institutional needs. The firm’s solution offers high security without compromising flexibility and accessibility, all under the regulatory oversight. Moreover, the service extends support to digital asset apps, Ethereum, Bitcoin, and ERC20 coins.

Aegis Custody, a firm providing financial services in digital asset space, is based in California’s San Francisco and backed by Fosun International Limited, a Chinese international asset manager. It concentrates on catering to a wide range of portfolio ranging from asset managers, family offices, and financial institutions to 3rd-party trusts, exchanges, and asset-based token issuers.

The company provides digital asset custody solutions that are flexible and institution-grade so that digital asset investments become simpler for institutions.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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