Hong Kong-based Crypto-Exchange HashKey Raises $100 Million in Series A Funding

Hong Kong’s HashKey Group Secures $100 Million Series A Funding

HashKey Group, the group behind the Hong Kong-licensed crypto-exchange, has announced that it has secured a $100 million Series A funding round. The raised capital will be used to expand its product offerings, including the crypto-exchange, and to develop its Web3 ecosystem.

Current Valuation of $1.2 Billion

According to the press release, Hong Kong’s HashKey Group has reached a current valuation of $1.2 billion. The capital raised will be used to develop its Web3 ecosystem, improve compliance, and expand its offering of crypto products.

Investors in the Series A Round

The digital asset company has not disclosed the investors participating in the Series A round. However, they have mentioned that existing shareholders and new investors, including institutional investors and strategic partners, have participated in the funding.

Main Activities of HashKey Group

The $100 million from the Series A round will be used in the main activities of the HashKey Group, which include HashKey Capital, HashKey Cloud, HashKey Tokenization, and HashKey NFT.

The First Authorized Crypto-Exchange in Hong Kong

Last August 2023, HashKey Exchange became the first fully authorized and regulated crypto-exchange in Hong Kong. This authorization is in contrast with China’s ban on crypto trading for retail customers. The exchange aims to achieve 500,000 to 1 million registrations by the end of 2023 and reach 10 million by 2025. Currently, it has over 155,000 registered users with a daily trading volume of less than $630 million in the last 30 days.

Hot Take: HashKey Group Raises $100 Million in Series A Funding

HashKey Group from Hong Kong has successfully secured a $100 million Series A funding round. This funding will be instrumental in expanding its product offerings, including the crypto-exchange, and further developing its Web3 ecosystem. With a current valuation of $1.2 billion, HashKey Group is making significant strides in the crypto industry. The investors participating in this funding round have not been disclosed, but they include existing shareholders as well as important institutional investors and strategic partners. This funding will support HashKey Group’s various activities, such as HashKey Capital and HashKey NFT. Overall, this funding round solidifies HashKey Group’s position as a key player in the crypto market.