Hong Kong’s HashKey Group Raises Nearly $100 Million in Series A Funding
Hong Kong-based HashKey Group has successfully raised close to $100 million in its Series A financing round, with a pre-money valuation exceeding $1.2 billion, according to the company. The funds will be used to develop HashKey’s Web3 ecosystem, enhance compliance measures, and expand its product offerings for its licensed business in Hong Kong.
The investors participating in this funding round have not been disclosed by HashKey. However, last year, the company’s exchange became one of the first crypto exchanges to obtain a license under Hong Kong’s new licensing regime, allowing it to offer retail services. Currently, the exchange boasts over 155,000 registered users and a daily average trading volume of $630 million over the past month.
Exploring Potential Crypto ETFs and Core Businesses
HashKey is also engaging in discussions with asset managers who are considering launching spot crypto exchange-traded funds (ETFs). The company may participate in these potential ETFs through crypto transactions associated with ETFs and by providing crypto custody services.
Aside from its exchange business, HashKey Group operates several core businesses including HashKey Capital, HashKey Cloud, HashKey Tokenisation, and HashKey NFT.
Hot Take: Hong Kong’s HashKey Group Secures Impressive Series A Funding
Hong Kong-based cryptocurrency firm HashKey Group has successfully raised nearly $100 million in its recent Series A funding round. This significant achievement demonstrates the growing interest and confidence in the company’s Web3 ecosystem and licensed business offerings. With a pre-money valuation surpassing $1.2 billion, HashKey is well-positioned to expand its operations and enhance compliance measures.
The company’s success is further exemplified by its status as one of the first crypto exchanges to receive a license under Hong Kong’s regulatory framework. This accomplishment has attracted over 155,000 registered users and an impressive daily trading volume of $630 million in the past 30 days. HashKey’s potential involvement in the launch of spot crypto exchange-traded funds highlights its commitment to innovation and collaboration within the cryptocurrency industry.
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