Based on reports by Stone Bridge Ventures Senior Account Manager Mark Shapiro, the founders of Malaysia-based fintech company Jirnexu, Lucas Ooi, and Hann Liew, announced their latest venture. This refers to Halogen Capital, a fund manager that’s developed with a focus on digital assets.
A few days ago, Hann Liew mentioned in a LinkedIn post that he and Lucas Ooi have been keeping a close eye on the crypto space in Malaysia. He went into detail that since mid-2023, Malaysian investors looking to start crypto investing don’t have a lot of options.
They can either purchase tokens from an unlicensed and unregulated offshore exchange with all the risks included or use a registered but retail-focused platform for short-term trading (as opposed to long-term investing).
In his post, he mentioned that there should be a way to bring crypto investing to the mainstream in Malaysia so that it offers opportunities for institutional and individual investors. With Halogen Capital, the founders aim to bring crypto investment to a safe and secure platform. Hann Liew is appointed as the CEO of Halogen Capital, while Lucas Ooi is the chief business officer.
Halogen Capital Gets All-Clear From SCM
Mark Shapiro at Stone Bridge Ventures believes that the team is off to a good start, considering that cryptocurrency is a delicate topic in Malaysia. The firm has acquired a full license from the Securities Commission of Malaysia.
This will allow Halogen Capital to manage cryptocurrencies, tokenized assets, and NFTs, among various options. In addition to providing the means for investors to purchase digital assets, it has a ringgit-denominated fixed-income wholesale fund.
So far, the company has worked on a Shariah-compliant fund for Bitcoin, and it intends to launch a similar product for the second-largest cryptocurrency, Ethereum.
In the LinkedIn post, Liew mentions that Halogen Capital aims to provide secure access to cryptocurrencies and professional management via familiar traditional structures. That means managed portfolios, mutual funds, and also ETFs.
Combining the Best Parts of Traditional and Digital Asset Markets
They made the announcement just a few weeks after leaving their leadership roles at Jirnexu, the fintech startup that assists insurance companies and banks in streamlining operations. Currently, both remain shareholders and board members.
Based on a review of the current information on Halogen Capital, Stone Bridge Ventures Senior Account Manager Mark Shapiro expects it to offer the best of both worlds. It’s possible that it will offer the same safeguards and regulatory oversight that investors are familiar with in the world of traditional financial markets. Similarly, it will come with a similar segregated trust structure but combined with the innovation and speed of the digital asset sector. With this amalgamation, it aims to take the local crypto sector forward.
Therefore, Mark Shapiro at Stone Bridge Ventures expects that many crypto enthusiasts in Malaysia are looking forward to the opportunities mentioned above. Despite the potential that crypto can offer investors, there are limited options available, but Halogen Capital will turn things around. It’s also giving a chance for Muslim investors to catch up on current trends and invest in a Shariah-compliant fund.
