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Harvest partnership to bring Hong Kong-listed crypto ETFs to Singapore
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Hong Kong-based Harvest Global Investments has entered into a strategic partnership with Singapore-based digital asset-focused fintech group MetaComp to make its new cryptocurrency spot exchange-traded funds available to investors in the city-state.
Under a memorandum of understanding signed by the two companies, MetaComp and its affiliates will provide investors with access to Harvest’s crypto spot ETFs through its proprietary client asset management platform, known as Camp by MetaComp.
According to the Singapore-based fintech, the initiative aims to expand the global footprint of Harvest ETFs and enable MetaComp to “enrich its portfolio of wealth management solutions with highly sought-after financial products.”
Harvest Global Investments is part of the Hong Kong units of three mainland Chinese asset managers – including Bosera Asset Management and China Asset Management – which launched two ETFs each following the prices of bitcoin and ether on April 30. Bosera funds were launched in partnership with HashKey Capital.
In addition to crypto ETF distribution, the collaboration between MetaComp and Harvest will explore opportunities to integrate Harvest’s various asset management solutions into MetaComp’s service offerings.
The fintech said it would also provide Harvest with access to its suite of digital payment token services.
He noted that the cooperation “is designed to serve not only the existing customer base of both entities, but also to capture new segments hungry for advanced financial solutions in the field of traditional finance and crypto-finance.”
Bo Bai, chairman and co-founder of MetaComp, said the deal reaffirms his company’s “commitment to being the bridge that connects traditional finance to crypto finance.”
“With Harvest’s asset management expertise and MetaComp’s strong capabilities in providing a comprehensive suite of digital payment solutions, we are poised to deliver unparalleled value to our clients and the market,” a- he added.
MetaComp, specializing in blockchain technology and digital assets, is licensed and regulated by the Monetary Authority of Singapore.
*Ignites Asia is a news service published by FT Specialist aimed at professionals working in the asset management industry. Trials and subscriptions are available at ignitesasia.com.