The HashKey Group Raises $100 Million in Series A Financing
The HashKey Group, operator of two licensed crypto exchanges based in Hong Kong, has announced that it has raised $100 million in a Series A financing round. The company’s pre-money valuation now stands at over $1.2 billion. While the investors remain undisclosed, the funding round attracted new institutional investors in addition to existing shareholders.
π₯BIG NEWS!
We are proud to announce the completion of a Series A financing round of nearly π°US $100 million at a pre-money valuation above π°US $1.2 billion.
The newly raised capital will be used to :
ποΈSolidify HashKey’s #Web3 ecosystem
ποΈAccelerate the productβ¦ pic.twitter.com/EgpWA04SRNβ HashKey Group (@HashKeyGroup) January 16, 2024
The funds raised will be utilized to strengthen HashKey’s web3 ecosystem, enhance product diversification for its licensed business in Hong Kong, and drive innovative development globally while ensuring compliance. One of their crypto exchanges, HashKey Exchange, has seen an average daily trading volume of $630 million in the past month.
HashKey Group: Pioneering Crypto Trading Platform in Hong Kong
Established in 2018, HashKey Group received approval from the Securities and Futures Commission (SFC) in Hong Kong, making it one of the first authorized firms to operate a crypto trading platform in the city. The company has been committed to meeting regulatory standards and ensuring compliance in its operations. As part of this commitment, HashKey Exchange recently announced that it will only accept crypto deposits greater than $1,024 from Binance.
Hot Take: HashKey Group Secures Significant Financing for Expansion
The successful completion of the Series A financing round with a valuation over $1.2 billion demonstrates the growing confidence and interest in HashKey Group’s crypto operations. With the newly raised capital, HashKey can further solidify its web3 ecosystem, diversify its product offerings, and continue driving innovation globally. This funding positions the company for significant expansion and reinforces its commitment to regulatory compliance. As one of the pioneering firms authorized to operate a crypto trading platform in Hong Kong, HashKey Group is well-positioned to capitalize on the increasing demand for digital assets.
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