Hong Kong has announced that Crypto investment firm Hashkey Capital has been launching an XRP fund, with plans to convert it to an exchange that has been exchanged by funds in the future.
According to one April 18 announcementThe fund, which officially titled The Hashkey XRP Tracker Fund, has reported “the first Asian investment fund designed to monitor XRP performance.”
XRP Developer Ripple Serve as investor anchor funds. In a separate x PostHashkey Capital said the fund aims to bring “more institutional capital to regulated XRP products and the wider digital asset ecosystem.”
Close the cooperation with Ripple
To another x PostHashkey Capital said the fund had marked the beginning of a closer cooperation with Ripple. The two companies “are exploring new investment products, defi-border defi solutions, and tokenization-including the possibility of launching a money market funding (MMF) on the XRP ledger.”
Related: Ripple compared to XRP compared to XRP Ledger: What’s the difference?
In the announcement, Hashkey Capital Partner Vivien Wong said the firm would share its connections with financial institutions, regulators and investors in Asia with Ripple, addition:
“The Ripple offers us the opportunity to cooperate with more investment products and solutions throughout cross-border payment solutions, decentralized finances (DEFI), and adoption of enterprise blockchain.”
A Hong Kong XRP ETF in works?
The XRP (XRP) Tracker Fund is the third tracker fund of Hashkey Capital and follows the Firm’s Bitcoin (Btc) and ether (Eth) ETF products. The company noted that this product may also be an ETF in the future.
Related: XRP: Why is it outperforming altcoins – and what’s next
A boon for adopting XRP institution in Asia
Hank Huang, CEO of Cronos Research, an Asian Crypto investment company, told Cointelegraph that “the launch of Hashkey Capital’s XRP Tracker Fund marks an important moment for institutional adoption” in the region. He said regulated and transparent products like the Hashkey’s Fund are what institutional investors need to enter the market.
“The proven case of XRP in cross-border payments, combined with Hashkey’s stable infrastructure, sets the stage for significant capital flow and greater acceptance of crypto assets in global finances,” Huang said.
Magazine: XRP Win leaves ripple and industry without crypto legal previously set
