Hong Kong's Ex-Financial Secretary Joins Crypto Firm StashAway as Advisor
Hong Kong’s former financial secretary has become an advisor of a Singapore-based digital wealth firm and has planned to give away a portion of his soon-to-be issued non-fungible tokens (NFTs) to attract new clients, according to a report by Bloomberg.
John Tsang, who spent more than three decades in Hong Kong’s civil service, said that following his departure from the government, he became interested in working with young people and firms with technology platforms that have the potential to “disrupt” a particular industry.
StashAway — Tsang’s new employer — was founded in 2016 and has more than $1 billion in assets under management and is backed by investors including Sequoia Capital.
In Hong Kong, StashAway has been in operation for only a year but is in talks with local regulators on offering crypto-related products to professional and retail investors.
Currently, there are bout 15 people working for StashAway in Hong Kong. The company has plans to hire more wealth advisers and for customer service.
While in Singapore, StashAway users can already buy crypto as an add-on product to traditional portfolios.
The 70-year-old former financial officer once ran election for the Chief Executive of Hong Kong in 2017.
Tsang also announced the launch of his NFT project on April 4 as part of his effort to contribute to Hong Kong’s startups.
He said that the NFT project was created in collaboration with Japanese illustrator Yosuke Yamauchi and the two have launched a collection of 3,000 “Choi Yeah” (“God of Fortune”) NFTs.
He said, “The world has changed so much in the past few years. Troubles of varying nature in our communities are causes for concern for all of us as we unwittingly enter the new Web 3.0 universe! This ‘Choi Yeah
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