HashKey Group Raises Nearly $100 Million in Series A Funding
HashKey Group, a digital asset financial services group in Asia, has successfully completed a Series A financing round, raising close to $100 million. This funding has pushed HashKey’s pre-money valuation to over $1.2 billion, giving it the coveted “unicorn” status in the venture capital industry.
Growth in the Hong Kong Virtual Asset Industry
In 2023, HashKey made significant progress in the Hong Kong virtual asset industry by launching the first licensed virtual asset exchange App. This platform offers secure and seamless one-stop virtual asset trading services. Within four months of its launch, the HashKey Exchange gained over 155,000 users and achieved a daily average trading volume of $630 million over the past 30 days. The exchange has also formed strategic partnerships with ten brokerage firms and six public listed companies.
Further Development of HashKey Group’s Web3 Ecosystem
The newly raised capital will be utilized by HashKey Group to enhance its Web3 ecosystem, diversify its licensed business offerings in Hong Kong, and support global expansion. The group’s core businesses include HashKey Capital, a global asset manager focused on blockchain technology and digital assets; HashKey Cloud, a leading blockchain node validation service provider; HashKey Tokenisation, a tokenization services provider; and HashKey NFT, a Web3 PFP incubation and community operation service provider.
HashKey Group: Empowering Investors in Digital Assets
Established in 2018 and headquartered in Hong Kong with operations in Singapore and Tokyo, HashKey Group offers innovative investment opportunities and end-to-end solutions in digital assets and the Web3 ecosystem. Its services cater to retail investors, large institutions, family offices, funds, and professional and accredited investors.
Diverse Investor Participation in Series A Funding
The Series A financing round attracted various investors, including institutional investors, Web3 institutions, and strategic partners. However, the specific identities of these investors have not been disclosed. One notable participant is rumored to be OKX Ventures, the investment arm of the OKX digital-asset exchange, although no official confirmation has been provided.
Overcoming Challenges in the Crypto Venture Capital Space
This successful funding round is a significant accomplishment for HashKey Group, particularly considering the challenges faced by the crypto venture capital industry in recent times. The industry experienced a downturn in 2022 due to market volatility and high-profile bankruptcies.
Hot Take: HashKey Group Secures Unicorn Status with $100 Million Funding Round
HashKey Group has reached unicorn status in the venture capital industry after raising almost $100 million in a Series A financing round. With a pre-money valuation surpassing $1.2 billion, this achievement highlights the company’s growth and success in the digital asset financial services sector. The funding will be used to expand HashKey’s Web3 ecosystem, enhance its licensed business offerings in Hong Kong, and support global expansion efforts. Despite challenges faced by the crypto venture capital space in recent years, HashKey Group has managed to attract diverse investors and secure significant funding to fuel its future endeavors.
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