Hong Kong’s HashKey secures $100 million in Series A round at $1.2 billion valuation
Quick Take
- HashKey Group said it plans to use the new capital to expand product offerings for its licensed business in Hong Kong.
Hong Kong’s HashKey Group has raised nearly $100 million in its Series A financing round at a pre-money valuation above $1.2 billion, the company said.
In a statement released today, HashKey said it plans to use the newly raised capital to develop its Web3 ecosystem, enhance compliance and expand its product offerings for its licensed business in Hong Kong.
HashKey did not disclose the investors participating in the latest round.
Last year, HashKey Exchange became one of the first crypto exchanges to obtain a license under Hong Kong’s new licensing regime, which permits crypto trading platforms to offer retail services.
The exchange currently has over 155,000 registered users with a daily average trading volume of $630 million in the past 30 days, the company said in today’s statement.
HashKey is also in talks with several asset managers who are exploring the launch of potential spot crypto exchange-traded funds. The company said it may participate in potential spot crypto ETFs in Hong Kong through two main aspects — engaging in crypto transactions associated with ETFs and providing crypto custody service.
HashKey Group’s core businesses include HashKey Capital, HashKey Cloud, HashKey Tokenisation and HashKey NFT, according to the statement.
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