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Hong Kong-based Harvest Global Investments has agreed a strategic partnership with Singapore-headquartered digital assets-focused financial technology 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 access to Harvest’s crypto spot ETFs via its proprietary client assets management platform, known as Camp by MetaComp.
According to the Singapore-based fintech, the initiative is designed to expand the global footprint of the Harvest ETFs and enable MetaComp to “enrich its wealth solution portfolio with highly sought-after financial products”.
Harvest Global Investments is among the Hong Kong units of three mainland Chinese asset managers — also including Bosera Asset Management and China Asset Management — which launched two ETFs each tracking bitcoin and ether prices on April 30. The Bosera funds were launched in partnership with HashKey Capital.
In addition to the crypto ETF distribution, the collaboration between MetaComp and Harvest will explore opportunities for the integration of Harvest’s various asset management solutions into MetaComp’s service offerings.
The fintech said it would also provide Harvest with access to its digital payment token suite of services.
It noted that the co-operation “is designed to serve not just the existing clientele of both entities but also to capture new segments eager for advanced financial solutions across traditional finance and crypto finance”.
Bo Bai, chair and co-founder of MetaComp, said the deal reaffirmed his company’s “commitment to being the bridge that links traditional finance with crypto finance”.
“With Harvest’s expertise in asset management and MetaComp’s robust capabilities in providing a comprehensive suite of digital payment solutions, we are poised to deliver unparalleled value to our clients and the market,” he added.
MetaComp, which specialises 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 for professionals working in the asset management industry. Trials and subscriptions are available at ignitesasia.com.
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