John Tsang, former Hong Kong’s former financial secretary joins StashAway. Tsang is the new advisor of at StashAway where he is planning to release his own non-fungible tokens (NFTs) to attract new customers to the company.
Following Tsang’s new role at the advisory committee, part of his unique 3,000 “Choi Yeah” NFT collection will be given for free to new clients that invest at least HK$50,000 (approximately $8,500).
John Tsang said on his NFT collection, “My collaborator in this NFT project is Yosuke Yamauchi. In sharing this collection of 3,000 “Choi Yeah NFT” with the people of Hong Kong.
“I hope to contribute some positive energy to the city. I shall also be sending out some gifts to my NFT recipients. They include six items over the course of the coming 12 months. ‘Choi Yeah NFT’ owners will also be invited to activities concerning the Web 3.0 universe.”
source: facebook
Tsang worked in worked in Hong Kong’s civil service for many years. He also acts as a senior advisor at Bowtie, an online medical insurance company.
StashAway is based in Singapore and has $1.36 billion in assets. Sequoia Capital is among StashAway’s investors. In 2020 StashAway launched its operations in Hong Kong, seeking a regulatory approval for offering digital assets to institutional and retail investors.
StashAway has approximately15 employees in Hong Kong, more wealth advisers customer service representatives are expected to be hired.
Stephanie Leung who is heading the operations in Hong Kong, “We’ve had a lot of requests about it [cryptocurrencies], especially because a lot of our investors are younger.
“If you look at the older cohorts, they are also interested because of the returns.”
Campden Wealth APAC Family Offices Findings
According to Campden Wealth, 38% of Asia-Pacific (APAC
Asia-Pacific (APAC)
The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or regulatory differences.In terms of the market as a whole, a series of events over the past decade has resulted in periods of extreme volatility and price spikes.These have helped increase the randomness in volatility that has been exacerbated by the several structural changes in the APAC FX market.This includes the impact of prudential regulation on banks’ ability to warehouse risk, the increased cost of continuing to participate in the market, and the competitive edge some institutions have gained through enhancing the sophistication of their platforms.APAC Outlook for FX MarketThe APAC market still looks friendly for development over a longer period though challenges remain for the FX industry.For example, liquidity is likely to concentrate further among fewer institutions in the decade ahead, which could limit the number of players.Despite its rapid recent growth China’s FX market is still small as a percentage of GDP and primarily domestic, this points to a clear opportunity for the market to develop further.Finally, the internationalization of the Chinese renminbi (RMB) is set to be a major force shaping the global financial system. Consequently, this should make China’s financial markets deeper and more liquid and have significant implications for international investment trends and global asset prices.
The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or regulatory differences.In terms of the market as a whole, a series of events over the past decade has resulted in periods of extreme volatility and price spikes.These have helped increase the randomness in volatility that has been exacerbated by the several structural changes in the APAC FX market.This includes the impact of prudential regulation on banks’ ability to warehouse risk, the increased cost of continuing to participate in the market, and the competitive edge some institutions have gained through enhancing the sophistication of their platforms.APAC Outlook for FX MarketThe APAC market still looks friendly for development over a longer period though challenges remain for the FX industry.For example, liquidity is likely to concentrate further among fewer institutions in the decade ahead, which could limit the number of players.Despite its rapid recent growth China’s FX market is still small as a percentage of GDP and primarily domestic, this points to a clear opportunity for the market to develop further.Finally, the internationalization of the Chinese renminbi (RMB) is set to be a major force shaping the global financial system. Consequently, this should make China’s financial markets deeper and more liquid and have significant implications for international investment trends and global asset prices.
Read this Term) family offices are planning to increase their cryptocurrency exposure. The global average is only 28%.
Even though only 19% invest in cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
Read this Term, 53% of family offices in APAC view cryptocurrency as ‘a promising investment.’ Only 33% of family offices in Europe view crypto as a sounding investment and in the United States only 43%.
It may also explain why HSBC metaverse fund is available exclusively for wealthy clients in Hong Kong and Singapore. Hong Kong Monetary Authority are planning to introduce new crypto regulations by July 2022.
80% of family offices in APAC are investing in private equity, 77% will consider increasing their investments in their home region.
John Tsang, former Hong Kong’s former financial secretary joins StashAway. Tsang is the new advisor of at StashAway where he is planning to release his own non-fungible tokens (NFTs) to attract new customers to the company.
Following Tsang’s new role at the advisory committee, part of his unique 3,000 “Choi Yeah” NFT collection will be given for free to new clients that invest at least HK$50,000 (approximately $8,500).
John Tsang said on his NFT collection, “My collaborator in this NFT project is Yosuke Yamauchi. In sharing this collection of 3,000 “Choi Yeah NFT” with the people of Hong Kong.
“I hope to contribute some positive energy to the city. I shall also be sending out some gifts to my NFT recipients. They include six items over the course of the coming 12 months. ‘Choi Yeah NFT’ owners will also be invited to activities concerning the Web 3.0 universe.”
source: facebook
Tsang worked in worked in Hong Kong’s civil service for many years. He also acts as a senior advisor at Bowtie, an online medical insurance company.
StashAway is based in Singapore and has $1.36 billion in assets. Sequoia Capital is among StashAway’s investors. In 2020 StashAway launched its operations in Hong Kong, seeking a regulatory approval for offering digital assets to institutional and retail investors.
StashAway has approximately15 employees in Hong Kong, more wealth advisers customer service representatives are expected to be hired.
Stephanie Leung who is heading the operations in Hong Kong, “We’ve had a lot of requests about it [cryptocurrencies], especially because a lot of our investors are younger.
“If you look at the older cohorts, they are also interested because of the returns.”
Campden Wealth APAC Family Offices Findings
According to Campden Wealth, 38% of Asia-Pacific (APAC
Asia-Pacific (APAC)
The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or regulatory differences.In terms of the market as a whole, a series of events over the past decade has resulted in periods of extreme volatility and price spikes.These have helped increase the randomness in volatility that has been exacerbated by the several structural changes in the APAC FX market.This includes the impact of prudential regulation on banks’ ability to warehouse risk, the increased cost of continuing to participate in the market, and the competitive edge some institutions have gained through enhancing the sophistication of their platforms.APAC Outlook for FX MarketThe APAC market still looks friendly for development over a longer period though challenges remain for the FX industry.For example, liquidity is likely to concentrate further among fewer institutions in the decade ahead, which could limit the number of players.Despite its rapid recent growth China’s FX market is still small as a percentage of GDP and primarily domestic, this points to a clear opportunity for the market to develop further.Finally, the internationalization of the Chinese renminbi (RMB) is set to be a major force shaping the global financial system. Consequently, this should make China’s financial markets deeper and more liquid and have significant implications for international investment trends and global asset prices.
The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or regulatory differences.In terms of the market as a whole, a series of events over the past decade has resulted in periods of extreme volatility and price spikes.These have helped increase the randomness in volatility that has been exacerbated by the several structural changes in the APAC FX market.This includes the impact of prudential regulation on banks’ ability to warehouse risk, the increased cost of continuing to participate in the market, and the competitive edge some institutions have gained through enhancing the sophistication of their platforms.APAC Outlook for FX MarketThe APAC market still looks friendly for development over a longer period though challenges remain for the FX industry.For example, liquidity is likely to concentrate further among fewer institutions in the decade ahead, which could limit the number of players.Despite its rapid recent growth China’s FX market is still small as a percentage of GDP and primarily domestic, this points to a clear opportunity for the market to develop further.Finally, the internationalization of the Chinese renminbi (RMB) is set to be a major force shaping the global financial system. Consequently, this should make China’s financial markets deeper and more liquid and have significant implications for international investment trends and global asset prices.
Read this Term) family offices are planning to increase their cryptocurrency exposure. The global average is only 28%.
Even though only 19% invest in cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
Read this Term, 53% of family offices in APAC view cryptocurrency as ‘a promising investment.’ Only 33% of family offices in Europe view crypto as a sounding investment and in the United States only 43%.
It may also explain why HSBC metaverse fund is available exclusively for wealthy clients in Hong Kong and Singapore. Hong Kong Monetary Authority are planning to introduce new crypto regulations by July 2022.
80% of family offices in APAC are investing in private equity, 77% will consider increasing their investments in their home region.
Source: https://www.financemagnates.com/executives/john-tsang-joins-the-advisory-committee-of-stashaway/