Aegis Custody & Trust, a US-based digital asset custodian, has expanded its operations in Hong Kong via partnerships with two prominent venture capital firms, Syndicate Capital Group and Newman Capital. This move has significantly strengthened Aegis' position as a global digital asset custodian.
Aegis is a leader in technology infrastructure at the forefront of regulatory compliance in the digital asset space that speaks to the demands of its clients. This is especially significant given the increased need for regulations in fintech services. As more people adapt to the use of cryptocurrency, the services of digital asset custodians become more needed globally.
"As we continue to see distributed ledgers mature, custodians are going to take on a more prominent role in terms of ensuring trust for all stakeholders," said Serra Wei, CEO and Founder of Aegis.
In 2019, Aegis secured a Trust or Company Service Provider (TCPS) license in Hong Kong and since that time has worked towards expansion within the city. "Hong Kong stands as a leading international financial hub equipped with a sound and robust financial regulatory regime, an expertly skilled workforce, and an absence of capital control. The city is also situated at the heart of Asia and in close proximity to Mainland China, making it an ideal choice for expanding our operations in the region." Wei explained.
Strategic partnerships
Through the support of InvestHK the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and mainland businesses to set up or expand in Hong Kong Aegis was able to secure two important strategic partnerships with the venture capitalist firms Syndicate Capital Group and Newman Capital.
"It represents a major milestone for us to propel the company closer to its goal of becoming the premier custodian for digital assets worldwide. We will continue to leverage Hong Kong's unique advantages to attract more institutional clients around the globe to the city," said Wei.
Hong Kong is well on its way to becoming a global virtual assets hub and is seen by fintech investors as an ideal location for global expansion.
Seeing a need
Wei, a former Goldman Sachs technology analyst, saw a need for custody infrastructure in crypto trading while running her own investment banking advisory group. Seeing the trillion-dollar potential within the market, this eye-opening experience led her to found Aegis.
Gaining the trust license in Hong Kong was the first step into the future of Aegis for Wei and her team, who are now out to win more clients and the strategic partnerships with the two venture capitalist firms are significant buoys to that goal. Regulators from around the globe specifically those in the US and Switzerland (FINRA) are working toward expanding their knowledge in digital assets, and considering them as tried and tested more so today than they have in the past.
The trillions of new assets that are being brought forth and developed have created a need for more infrastructure providers, which is simply leading to more growth for companies like Aegis.
Rapid expansion
Since it was established in 2018, Aegis has established itself as a force to be reckoned with inside the fintech sphere. The company's focus remains on virtual assets, providing institutional-grade custody, in-custody staking, and in-custody execution solutions.
Aegis was started with user-friendliness in mind, with each custody experience tailored to the customer's individual needs. As a rapidly-scaling startup with a woman at its head, the company is a bit of an anomaly in the fintech space. Wei has recognized the need for increased regulatory oversight in the cryptocurrency market, especially with female crypto investors. She brings a unique vision and approach to the industry one that is likely to be welcomed as Aegis expands to global proportions.
