KUALA
LUMPUR, Malaysia, April 23,
2024 /PRNewswire/ -- Zetrix Foundation and MY E.G.
Services Berhad ("MYEG") signed a Memorandum of Understanding (MoU)
with MaiCapital, a licensed virtual asset manager in Hong Kong, to collaborate on the launch of a
virtual asset fund or Hong Kong
virtual assets exchange-traded fund (ETF) products.
The MoU focuses on a collaboration to issue a Securities and
Futures Commission of Hong Kong
(SFC) approved ETF, which would consist of a basket of
cryptocurrencies, such as Bitcoin and
Zetrix, and potentially other suitable
cryptocurrencies.
This collaboration follows MYEG-developed Zetrix's announcement
of a strategic alliance with Web3Labs Hong Kong, a powerhouse in Web3 development
and investment, alongside venture capital firm Summer Capital.
Together, they aim to drive forward Hong
Kong's Web3 ambitions and position Zetrix as the preferred
blockchain infrastructure for applications aligned with the
Hong Kong government's objectives,
an initiative launched earlier this year.
The collaborative effort between MYEG and MaiCapital is timely,
coming just as the SFC has begun granting approvals to several
asset managers to launch the first spot bitcoin and
ethereum ETFs.
TS Wong, Managing Director of MYEG, says that this partnership
marks another milestone in integrating digital assets into
mainstream finance.
"MYEG is pleased to partner with MaiCapital, a leading provider
of virtual asset (VA) fund services in Hong Kong, to expand our offerings of
cryptocurrency virtual assets fund or ETF options for
investors. This collaboration aims to provide investors with
additional avenues for diversification across multiple
cryptocurrencies, thereby helping to mitigate the
risks and volatility associated with owning a single
cryptocurrency."
Managing Partner of MaiCapital Limited, Marco Lim says this collaboration is a testament
that Hong Kong's embrace of Web3
technologies and positioning itself as a hub for innovation in this
space is bearing fruit.
"VAs are a key part of a vibrant Web3 ecosystem, and more and
more leading Web3 players are recognising Hong Kong's progressive yet prudent stance on
Web3. Our latest MoU with Zetrix Foundation/MYEG is yet another
testament," he says.
About Zetrix
Zetrix is a layer-1 public blockchain that facilitates smart
contracts and delivers privacy, security and scalability. Zetrix's
cryptographic infrastructure can be introduced to multiple
industries to connect governments, businesses and their citizens to
a global blockchain-based economy. Developed by MY E.G. Services
Bhd, the cross-border and cross-chain integration with China's national public blockchain Xinghuo BIF
enables Zetrix to serve as a blockchain gateway that facilitates
global trade by deploying critical building blocks for Web3
services such as Blockchain-based Identifiers (BID) and Verifiable
Credentials (VC).
Website: https://www.zetrix.com/
About MY E.G. Services Bhd ("MYEG")
MYEG is Malaysia's premier
digital services company. Having commenced operations in 2000 as
the flagship e-government services provider, MYEG continues to play
a leading role in driving technological change in the region,
bringing a diverse and complete range of innovations spanning the
online delivery of major government services to a variety of
commercial offerings in the areas of immigration, automotive,
healthcare and financial services, among others. Committed to
staying firmly at the forefront of the region's digital revolution,
MYEG has embraced the potential of blockchain technology to enhance
all aspects of life and is actively pioneering its adoption across
its main markets. MYEG has operations in key regional markets such
as the Philippines and
Indonesia.
Website: https://www.myeg.com.my/
MaiCapital Limited ("MaiCapital")
MaiCapital is a leading virtual assets investment manager in
Hong Kong and is a pioneer in
applying institutional investment practices to the innovative
cryptocurrency space. The firm aims to offer
crypto-inclined investors with legitimate and
compliant products that provide positive returns with maximum
protection.
MaiCapital has received Securities and Futures Commission of
Hong Kong's (SFC) approval to
manage funds that may comprise up to 100% virtual assets. The firm
is subject to the SFC's "Proforma Terms and Conditions for Licensed
Corporations which Manage Portfolios that Invest in Virtual
Assets".
In early 2019, the firm launched its first
crypto-themed product, the Blockchain Opportunity
Fund. The multi-strategy investment approach of this Fund has
garnered global recognition, with the London-based investment data company Preqin
ranking its 2021 return among the Top 3 hedge funds across all of
Asia.
Website: https://www.maicapital.io/
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SOURCE Zetrix