Fuce Jinke applies for Hong Kong VASP license to expand virtual asset management business

PANews reported on August 11th that according to Zhitong Finance, comprehensive financial and digital technology services provider FTFT (US) announced today that its wholly-owned Hong Kong subsidiary, FTFT International Securities and Futures Co., Ltd., has signed a mandate agreement with a renowned Hong Kong compliance consultant. The consultant will apply to the Securities and Futures Commission (SFC) for a Virtual Asset Services (VASP) license and a Type 9 asset management license, building on the company's existing Hong Kong Type 1, Type 2, and Type 4 licenses. The licenses will cover both traditional and virtual asset management businesses. The consultant will conduct a detailed review and assessment of the company's business model and risk management capabilities, and will assist the company in preparing the relevant application materials and business plan for submission to the SFC.