{"id":76813,"date":"2023-04-06T18:19:57","date_gmt":"2023-04-06T15:19:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76813"},"modified":"2025-09-10T19:34:44","modified_gmt":"2025-09-10T16:34:44","slug":"major-chinese-insurer-launches-two-crypto-funds-in-hong-kong","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/major-chinese-insurer-launches-two-crypto-funds-in-hong-kong\/","title":{"rendered":"Major Chinese insurer launches two crypto funds in Hong Kong"},"content":{"rendered":"<p>The fourth-largest insurer in China by revenue, China Pacific Insurance Group, via a subsidiary, has launched two investment funds in Hong Kong focused on the digital asset industry.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">With the implementation of incentive policies related to virtual assets by the Hong Kong government, CPIC Investment Management (HK) Company Limited and Waterdrip Capital jointly launched a digital asset fund.<a href=\\\"https:\/\/t.co\/OeyulJNbo6\\\">https:\/\/t.co\/OeyulJNbo6<\/a><\/p>\n<p>\u2014 Waterdrip Capital (@waterdripfund) <a href=\\\"https:\/\/twitter.com\/waterdripfund\/status\/1642809488637054977?ref_src=twsrc%5Etfw\\\">April 3, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The partnership in Hong Kong is led by Waterdrip Capital, a Shanghai-based venture firm founded in 2017 by blockchain-industry pioneers that has backed more than 100 sector projects.<\/p>\n<p>The funds are open to institutional investors such as corporations, family offices and high-net-worth individuals.<\/p>\n<p>Pacific Waterdrip Digital Asset Fund I aims to participate predominantly in seed and other early rounds for blockchain startups, focusing on infrastructure solutions, DeFi applications, <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a>-instruments such as <span data-descr=\\\"software as a service \u2014 provision of ready-made software with maintenance\\\" class=\\\"old_tooltip\\\">SaaS<\/span>, metaverses, NFT products, and more.<\/p>\n<p>Pacific Waterdrip Digital Asset Fund II will earn returns from investments in digital assets on a <a href=\"https:\/\/u1f987.com\/en\/news\/proof-of-stake-how-it-works-and-why-it-is-so-popular\">Proof-of-Stake<\/a> algorithm. To boost profits, the structure will employ derivatives and risk-control tools.<\/p>\n<p>The subsidiary of China Pacific Insurance in Hong Kong holds licenses to operate as a securities adviser and asset manager.<\/p>\n<p>Earlier this year, Hong Kong Financial Secretary Paul Chan signalled the territory&#8217;s readiness to <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-signals-commitment-to-developing-the-crypto-industry\">become a global hub<\/a> for crypto companies worldwide. In the autonomous region budget they earmarked about $6.4 million to support <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-to-earmark-hkd-50m-in-annual-budget-for-web3-industry\">the relevant infrastructure<\/a>.<\/p>\n<p>Earlier, Hong Kong <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-eases-crypto-regulation-and-revises-stance-on-bitcoin-etfs\">eased the regulatory regime<\/a> for the industry, and the government-backed accelerator announced plans to support <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-to-back-1000-web3-startups-says-g-rocket-accelerator\">up to 1000 Web3 startups<\/a>.<\/p>\n<p>Former BitMEX CEO Arthur Hayes suggested that these trends are linked to Beijing&#8217;s efforts to <a href=\"https:\/\/u1f987.com\/en\/news\/arthur-hayes-envisions-chinas-return-to-the-crypto-industry-via-hong-kong\">return to the digital-asset market<\/a>.<\/p>\n<p>Bloomberg reports that Hong Kong&#8217;s crypto initiatives <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-flags-beijings-backing-of-hong-kongs-crypto-ambitions\">are tacitly supported<\/a> by Beijing officials, <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-chinese-banks-eye-servicing-crypto-firms-based-in-hong-kong\">Interest in servicing<\/a> crypto companies in the jurisdiction has been shown by major Chinese banks.<\/p>\n<p>Kaiko chief executive Ambre Soubiran noted that Hong Kong could <a href=\"https:\/\/u1f987.com\/en\/news\/opinion-hong-kong-could-draw-the-crypto-industry-away-from-the-united-states\">&#8216;lure&#8217;<\/a> crypto companies away from the United States due to tighter regulatory oversight.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China Pacific Insurance Group, the fourth-largest insurer in China by revenue, via a subsidiary launched two investment funds in Hong Kong focused on the digital asset industry.<\/p>\n","protected":false},"author":1,"featured_media":76814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[832,52],"class_list":["post-76813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-hong-kong","tag-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76813"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76813\/revisions"}],"predecessor-version":[{"id":76815,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76813\/revisions\/76815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76814"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}