The blockchain investment company Hivemind names a seasoned banker as its head of Asia and expands to Hong Kong.

The blockchain investment company Hivemind names a seasoned banker as its head of Asia and expands to Hong Kong.

Renowned web3 and digital asset investment firm Hivemind Capital Partners has announced plans to grow into Hong Kong.

A press release on Tuesday stated that the company has also named seasoned investment banker Stanley Huo as its head of Asia.

Huo has worked in investment banking for more than 15 years, gaining experience at prestigious companies in Asia and Europe like China Renaissance, UBS, Citi, and BAML.

In a comment, Huo stated, "I'm excited to be joining Hivemind at such an amazing time.".

"The convergence of emerging digital asset technologies and traditional finance in Hong Kong offers unparalleled prospects, and I'm excited to spearhead our endeavors within this dynamic environment. ".

Hong Kong is praised as a cryptocurrency hub by Hivemind.

A major crypto hub, Hivemind also highlighted the benefits of operating in the city-state of Hong Kong.

According to the company, the city offers an ecosystem that makes it easier to raise capital, access traditional financial infrastructure, and investigate blockchain-related innovations.

"Matt Zhang, the founder and managing partner of Hivemind, stated that our firm's growth into Hong Kong is a testament to our commitment to being at the forefront of financial innovation and technology.".

We are well-positioned to make a substantial contribution to and impact the developing story of blockchain technology and digital assets in the Asia-Pacific region, with Stanley spearheading our business there. ".

There are still funds available for Hivemind to deploy from its recent $1.05 billion investment vehicle launch.

Furthermore, earlier this year, the business unveiled the $300 million Liquid Opportunity Fund.

Obtaining $60 million for the fund was confirmed by Hivemind's founder, Matt Zhang, in June.

Web3 Companies Keep Coming to Hong Kong.

Hivemind's move into Hong Kong is consistent with a trend in which other cryptocurrency companies are realizing the potential of the area and taking it into consideration for future growth.

For instance, Standard Chartered-backed digital asset custodian Zodia Custody just declared its arrival in Hong Kong.

With recent initiatives like the launch of retail trading for authorized cryptocurrency exchanges in August, Hong Kong has been promoting itself as a center for Web3 businesses; however, it has not been without difficulties.

The city recently saw the biggest Ponzi scheme in its history, with users of the JPEX cryptocurrency exchange losing about $166 million.

The incident is still being looked into.

Analysts and business professionals are worried that the consequences of the JPEX fiasco will pose serious obstacles for virtual asset firms and impede government initiatives to grow the industry.

Cyrus Ip, a crypto venture investor and the chief business officer of artificial intelligence start-up DreamWld Technology, stated that "the JPEX case has created a negative impression for people in Hong Kong on digital assets and the broader Web3 industry at a time when people still don't completely understand what Web3 is."

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