Hong Kong, November 10th / PRNewswire / -- 2WA announced today that Eddid Financial's subsidiaries Eddid Securities, and, and Futures Limited ("Eddid") have been appointed as distributors for PrimePlus SPC's independent investment portfolio USDGO Plus SP.
According to the distribution agreement signed with PrimePlus Asset Management Limited, PrimePlus Asset Management Limited serves as the investment manager for USDGO Plus SP and is also a member of the 2WA Group. Eddid will provide the rights and interests of USDGO Plus SP to professional investors in Hong Kong. Eddid holds a Class 1 (Securities Trading) Regulated Activities License issued by the Securities and Futures Commission of Hong Kong (SFC) (Central Reference Number: BHT550).
USDGO Plus SP is a USDGO stablecoin market-neutral strategy fund. The fund seeks to earn interest income in the digital asset market by holding mutually hedged spot and perpetual futures positions, therefore its returns are not dependent on the direction of market prices.
"The appointment of Eddid reflects how we intend to develop USDGO Plus SP: through regulated intermediaries that have already served professional investors and adhere to their own account opening and suitability standards," said Eugene Cheung, CEO of 2WA. "The value of a market-neutral strategy depends on its accessibility. Adding licensed distributors like Eddid provides another regulated pathway for professional investors in Hong Kong to access this fund and also expands the role of USDGO as a settlement and liquidity asset."
"Our professional investor clients are increasingly seeking access to digital asset strategies that do not rely on judgment of market direction," said Dr Ricky Yeung, the head of virtual assets at Eddid Financial. "USDGO Plus SP meets this need by aiming to capture the funding cost arbitrage in the crypto derivatives market. In addition, the fund offers daily subscriptions, redemptions, and updates of net asset value. We are delighted to provide this product through our licensed platform, complemented by customer account opening and suitability standards, which is also what our clients expect."
About 2WA
2WA is a company that develops technologies for real-world assets ( RWA ) and digital assets, focusing on expanding the uses of regulated assets. 2WA utilizes blockchain technology, including tokenization, to broaden the ways in which regulated assets such as fund shares and listed stocks can be held, used, and transferred. Throughout this process, the underlying assets are still kept by licensed custodian institutions. 2WA's goal is to create new use cases for these assets and to enhance their overall value for investors and institutions in the process.
USDGO is the core of the 2WA business. As an active participant in the USDGO ecosystem, 2WA uses USDGO as the main settlement and liquidity asset in its RWA products. Together with partners, it aims to expand its adoption, deepen liquidity, and support the long-term growth of this ecosystem.
About Eddid Financial
Eddid Financial Headquartered in Hong Kong, it is a comprehensive financial group that focuses on fintech and is committed to integrating the latest technologies into corporate DNA. Eddid Financial Its diversified business covers a range from retail to institutional services, including but not limited to fintech, internet finance, wealth management, asset management, investment banking, and digital assets. Eddid Financial It strives to provide customers with one-stop financial services and products through high-quality investment solutions. The group's members hold multiple licenses and membership qualifications in major financial markets, including Class 1, 2, 3, 4, 5, 6, and 9 licenses for regulated activities under the Hong Kong Securities and Futures Commission (SFC); Exchange and Clearing House Limited (SEHK) and Stock Exchange of Hong Kong participants (OTP-C Brokerage Numbers: 0974 and 0977); insurance brokerage company licenses; as well as licenses for providing trust or corporate services in Hong Kong. In addition, its wholly-owned US brokerage subsidiary, Eddid Securities USA Inc, has been approved as a member by the Financial Industry Regulatory Authority (FINRA), the National Futures Association (NFA), the Securities Investor Protection Corporation of America (SIPC), the NASDAQ Stock Market (LLC), the New York Stock Exchange (NYSE), and NYSE American. It is also registered with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) of the United States. Its Singapore subsidiary, Eddid Financial Singapore Pte, Ltd, holds a Capital Markets Services License issued by the Monetary Authority of Singapore (MAS) (License Number: CMS101839).
Disclaimer
This press release is for informational purposes only and should not be construed as an offer, solicitation, invitation, recommendation, or inducement to purchase, sell, subscribe for, or otherwise trade any digital assets, securities, or financial products. It does not constitute financial, investment, legal, tax, accounting, or other professional advice, and should not be regarded as such. The views, statements, and information contained herein do not necessarily reflect the official positions or commitments of 2WA, PrimePlus SPC, Eddid, or their respective affiliates. Descriptions of products, services, promotions, or plans are for general reference only. Participation in any of the products, services, or promotional activities mentioned herein is subject to the applicable terms, conditions, and regulatory requirements. This press release may contain forward-looking statements or indicative information. Actual results may vary significantly, and 2WA, PrimePlus SPC, Eddid, or their respective affiliates have no obligation to update such information.
USDGO Plus SP has not yet obtained authorization from the Securities and Futures Commission under Section 104 of the Securities and Futures Ordinance (Chapter 571), and its offering documents have not been reviewed by any regulatory authority in Hong Kong. This press release has also not been reviewed by any regulatory authority in Hong Kong. The interests of USDGO Plus SP are only available for sale to professional investors in Hong Kong, and investments can only be made in accordance with the offering documents of that fund. Investing in digital asset funds involves significant risks, including the potential loss of the entire investment amount. A market-neutral strategy does not eliminate these risks, and the fund's fees may also turn negative. Past performance does not guarantee future results.
For the sake of clarity, this press release is intended solely for “professional investors” (as defined in the Securities and Futures Ordinance (Chapter 571) and its subsidiary legislation), and is not intended to be distributed or used by any person in a jurisdiction where such distribution or use would violate applicable laws or regulations. This press release does not constitute any proactive marketing to the public in Hong Kong. Any person who comes into contact with this press release is responsible for complying with all applicable laws and regulations of the relevant jurisdiction.
The products mentioned in this article may constitute “designated stablecoins” under the Stabilized Coins Regulations (Chapter 656). However, the issuers of these related products, namely Eddid Securities, and, and Futures Limited, have not obtained a licence to carry out “regulated stablecoin activities” in Hong Kong in accordance with the Stabilized Coins Regulations. Eddid Securities, and, and Futures Limited are considered “authorized offerors” under the Stabilized Coins Regulations and only provide such products and services to customers in Hong Kong who have been verified and accepted as professional investors by Eddid Securities, and, and Futures Limited.
