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On September 23, 2025, Mango Fiduciary Limited, a subsidiary of Mango Financial Limited, was granted a Trust or Company Service Provider (TCSP) license by the Hong Kong Government, with license number TC010494. Why is the TCSP License So Important? The Hong Kong Stablecoin Ordinance officially came into effect on August 1, 2025, establishing the TCSP license as central to the virtual asset custody landscape in Hong Kong. Firstly, regulations like the Stablecoin Ordinance mandate that reserve assets must be held in custody by a licensed third-party financial institution, and the TCSP license is a necessary condition for compliantly conducting virtual asset custody business. Secondly, the trust structure offers asset segregation functionality; based on the independence of trust property, it effectively achieves asset segregation to safeguard virtual assets. Concurrently, the SFC's A-S-P-I-R-e virtual asset market regulatory roadmap provides clear policy guidance for crypto asset trust management, making the TCSP license a critical component for financial institutions building out their virtual asset custody services.
Mango Financial's Strategic Layout for Virtual Asset Business As a licensed financial services institution, Mango Financial had previously applied to the Hong Kong SFC to upgrade its Type 1 (dealing in securities), Type 4 (advising on securities), and Type 9 (asset management) licenses to cover virtual asset activities. Its US$100 million open-ended fund, the "Mango Financial OFC Mango Global Strategy Fund," was approved for issuance by the Hong Kong SFC on August 6 and has officially commenced fundraising, with its primary investment focus being virtual currency assets. With the granting of the TCSP license, Mango Financial is now qualified to provide trust and corporate structure services for clients and will also offer end-to-end solutions in areas such as virtual asset custody, fund management, and the establishment of compliant SPV structures.
Through its multi-pronged strategy encompassing 'Licensing + Trust + Funds + Asset Management,' Mango Financial is opening up compliant, secure, and innovative financing pathways for small and medium-sized enterprises. |
