Aegis Custody receives license for digital custody business from HongKong

Aegis Custody Company Limited ("Aegis Custody") has been granted a license as a Trust Company for its digital asset custody business by the Hong Kong Companies Registry of Trust and Company Services Providers.

Aegis Custody is a digital asset financial services company headquartered in San Francisco, CA, backed by global asset manager Fosun International Limited. It focuses on serving family offices, asset managers, exchanges, asset-backed token issuers, third-party trusts and financial institutions.

Aegis Founder and CEO, Serra Wei said, "This is a major milestone for Aegis Custody which allows us to offer our products and services to institutional investors globally. Through our Hong Kong business, we will be able to service clients interested in the new digital asset economy on a global scale, while we continue our license application as a Qualified Custodian in the United States. I am grateful to my team at Aegis, our investors and the forward-thinking regulators in Hong Kong for this step forward in the development of the fintech industry in this market."

Assets worth more than two billion dollars have been lost in the past five years due to internal theft, cybersecurity attacks and human errors. The lack of reliable regulated custodians has been a major hurdle in growing the digital asset management industry. Hot wallets and cold storage products are not providing enough security, and institutional investors seek regulated third-party custodians for advanced protection, private key management and recovery plans for their client's digital assets, similar to services offered in traditional asset management.

Aegis Custody developed a distributed hardware device- the "Aegis Pen" - with a transaction management system tailored to institutional needs. Aegis Custody's solution is a highly-secure digital asset management workflow which does not compromise accessibility and flexibility, all of which are under regulatory oversight. The service supports Bitcoin, Ethereum, ERC-20 tokens and digital asset applications. The company is able to custody assets for clients like Fosun, that manages over $80B assets, and is positioned to benefit from the proliferation of blockchain-based solutions, as companies increasingly look to leverage tokens to hold and transfer value in everyday finance and business.