In a groundbreaking move, China’s state-backed insurance giant, China Pacific Insurance Group (CPIC), is partnering with the Swiss crypto bank AMINA Group (formerly SEBA Bank) to expand its expertise in the cryptocurrency sector. This strategic alliance promises to revolutionize the financial landscape in the Asia-Pacific region.
CPIC Ventures into Crypto Investment Advisory and Banking
CPICIMHK, the Hong Kong-based arm of CPIC, the second-largest property insurance company in China, will be collaborating with AMINA Group to provide investment advisory and banking services as an integrated solution to the Pacific Waterdrip Digital Asset Funds. This partnership underscores CPICIMHK’s commitment to innovation and diversification in the financial sector, leveraging its recent license uplifts from the Securities and Futures Commission of Hong Kong to offer distribution and investment advisory services related to virtual asset investment products.
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.https://t.co/OeyulJNbo6
— Waterdrip Capital (@waterdripfund) April 3, 2023
Fostering Growth in Blockchain Startups
The Pacific Waterdrip Digital Asset Fund I targets early-stage blockchain startups, providing them with the capital necessary to foster their growth and development. In contrast, the Pacific Waterdrip Digital Asset Fund II focuses on proof-of-stake tokens, offering investors a way to engage with energy-efficient and secure digital assets.
“This partnership underscores CPICIMHK’s commitment to innovation and diversification in the financial sector on the back of its license uplifts from the Securities and Futures Commission of Hong Kong to offer distribution and investment advisory services related to virtual asset investment products.”
- AMINA Group
Leveraging Expertise and Services
CPICIMHK CEO Chenggang Zhou emphasized that the Hong Kong-based firm will advise on crypto investment opportunities, while AMINA will facilitate on/off-ramping, crypto trading, and custodial services. This strategic alliance aims to provide a comprehensive solution to investors seeking to navigate the complex world of cryptocurrency investments.
It remains unclear whether CPICIMHK still relies on Waterdrip’s services after forming its new partnership with AMINA Group. Nonetheless, this collaboration marks a significant step forward in the integration of traditional finance and the rapidly evolving cryptocurrency industry.
