Baker McKenzie assisted SFC-licensed asset manager Pando Finance Limited ("Pando Finance") in securing approval from the Hong Kong Securities and Futures Commission (SFC) to manage investment funds that comprise up to 100% virtual assets.

The Baker McKenzie team advising Pando Finance comprised virtual asset specialists Joy Lam, Ryan Chan and Samantha W.S. Lai.

"This milestone approval allows Pando Finance to expand its rapidly growing offering of virtual asset-related investment products, giving professional investors more institutional grade options to participate in both passive and actively managed fund products with direct exposure to virtual assets," Joy Lam said.

"We are pleased to have supported Pando Finance in becoming the first regulated asset manager in Hong Kong to offer a comprehensive catalogue of virtual asset-focused fund products which cater to both retail and professional investors," Joy added.

Joy continued, "Advising on this transaction allowed us to leverage our extensive industry experience in virtual assets. We look forward to continuing to support Pando Finance as they further develop their growing portfolio of innovative virtual asset-focused products and help transform Hong Kong into a vibrant virtual asset hub.”

Junfei Ren, Partner of Pando Finance, stated, “as a leading financial institution specialized in virtual asset investments, Pando Finance is devoted to giving investors more investment opportunities within this exciting new asset class. We believe in the development potential of blockchain technology and the crypto industry more broadly, and will continue our fundamental research in the crypto market to optimize our strategies and maximize returns for our clients."

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