Michel Lee on Financial Innovation
Michel Lee, Executive President of HashKey Group has a strong financial services track record, including 25 years at UBS, leading teams to create derivatives and other financial instruments.
While at UBS, Michel Lee held senior positions in London, Tokyo, and Hong Kong and served as head of UBS’s equity capital markets and solutions business for Asia Pacific.
After moving from UBS to HashKey, he’s driving the same innovation with tokenizations and other ways to invest in digital assets that meet the compliance and risk standards of institutional investors.
Here are some of Michel Lee’s thoughts on financial innovation:
At UBS I focused on technically complex financial products. UBS was able to create new ways for client companies to raise capital. Now at HashKey, we are exploring new horizons in exchanges, liquidity solutions, custody, and investment opportunities.”
At this stage, HashKey is a leader in the space and making trades in the digital asset and blockchain space. We are applying for our Hong Kong SFC licenses in advance of moving into trading and exchange, so this is an area we are building.
The goal here is not to set up a retail platform, but to build a platform that lasts and adds value to the blockchain community and to the investment community in the long run. So that’s the key thing. It is not about coming out with the next fad, It is about the institutionalization of digital asset investment, because at this point in time, cryptocurrencies are really more of a “retail punter” product. And when virtual currencies are made institutional grade, with robust regulation and custody services, this asset class will be commonly acceptable.
The digital asset infrastructure technologies are still at an early stage and this is a huge opportunity. Take the push to deploy new technology such as electric vehicles in China. There will be various assets that will come from left to right, a lot more. The fact that DCP is coming online makes it a lot easier to transact many different assets that will be native to blockchain.
People are putting stocks and bonds and rates on the blockchain. Yes, you can do that, but those asset classes are already very well served by traditional financing. Some have gone so far to draw a parallel between Bitcoin and gold in the sense that it ‘s the rare thing that gets people moving towards an alternative to government fiat money. That’s well established. But what’s really exciting is innovation as new technologies and investment scenarios come online. And that’s why at HashKey we are building to capture that opportunity.