CJ - Cryptocurrency Specialist
In response to their perception of a potentially expanding market in the virtual reality space, HSBC Holdings, like other financial services companies, has announced the launch of a fund intended to capture cryptocurrency investment opportunities in the metaverse, exclusively for their billionaire and millionaire clients from Hong Kong and Singapore. According to a statement, the London-based bank said its Metaverse Discretionary Strategy portfolio would concentrate on five investment sectors in the metaverse ecosystem: virtualization, infrastructure, compute, interface, experience and discovery.
Clients will have "a plethora of intriguing options."
"The metaverse ecosystem, while still in its infancy, is fast expanding," said Lina Lim, HSBC Regional Head of Discretionary and Funds for Investments and Wealth Solutions, Asia Pacific.
She went on to say that her asset management division sees “many interesting opportunities” for professional investors in this investment portfolio, "when firms of all origins and sizes are brought into the ecosystem."
The metaverse is a network of virtual reality-based environments where users can play, connect, and work. These virtual locations can be visited using several gadgets, such as computers and cellphones. According to HSBC, this discretionary portfolio was created especially for its high and ultra-high-net-worth clients, as well as other crypto market investment clients based in Hong Kong and Singapore.
The British bank said in March that it had purchased a piece of virtual real estate in an online gaming environment. As a result, HSBC has become the second major bank to invest in the metaverse, following JPMorgan's investment in the Decentraland virtual reality platform.
On the other hand, Following Facebook's (now Meta) decision to stake its future on the metaverse, other businesses, including major investment banks, have opted to do the same. According to research by Citi Global Perspectives and Solutions (Citi GPS), the metaverse would be worth up to $13,000 million by 2030, with 5 billion individuals linked to these platforms.
If you are looking for a cryptocurrency exchange platform to kick off your crypto journey, stop by BC Bitcoin. Not only is it the cheapest place to buy Bitcoin UK, additionally committed team members are here to answer any questions you might have.