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Breaking: HashKey Group Raising Funds At $1 Billion Valuation Amid Hong Kong Push

HashKey Group on Friday said it plans to raise funds at over $1 billion valuation amid Hong Kong's crypto hub plan.
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Breaking: HashKey Group Raising Funds At $1 Billion Valuation Amid Hong Kong Push

Digital asset financial services firm HashKey Group on Friday said it plans to raise funds at over $1 billion valuation. According to sources familiar with the matter, Hong Kong-headquartered crypto asset leader is in the process of raising $100 to $200 million.

HashKey Group is one of the two licensed digital asset exchanges in Hong Kong. The firm is making several moves to maintain its dominance as the city’s crypto hub initiative attracts global crypto exchanges and firms.

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HashKey Group Eyes Funding At $1 Billion Valuation

Hong Kong-based HashKey Group eyes $100 million to $200 million in funding at a valuation of $1 billion amid Hong Kong’s digital asset push.

HashKey is in early-stage talks to raise funding and entice potential investors. However, the funding size and valuation could change as the deal progresses with time. According to the people familiar with the matter, the numbers aren’t still finalized.

The company operates HashKey Capital, HashKey Custody, brokerage HashKey XPert, HashKey Pro exchange, and Web3 infrastructure HashQuark. Recently, the firm also co-hosted Hong Kong’s debut Web3 Festival.

HashKey launching wealth management, OTC desk, and exchange services in Hong Kong. In fact, HashKey and BC Technology Group Co.’s OSL are the only two licensed bourses. HaskKey’s exchange will launch in 2023 Q2, with ZA Bank and Bank of Communications as settlement banks. Crypto exchanges such as OKX, Bitget, and Huobi have plans to obtain licenses under Hong Kong’s new regulatory regime.

Also Read: Bitcoin Going To The Moon In 2023 Summer, Here’s What Elon Musk Says

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Hong Kong’s Road To Crypto Hub

Hong Kong is taking a more progressive approach by introducing regulations and licenses for the crypto industry. Moreover, Hong Kong’s Securities and Futures Commission (SFC) is ensuring that the transition to a crypto hub takes smoothly.

Ripple has joined the Hong Kong Monetary Authority’s (HKMA) the e-HKD Pilot Programme. HKMA’s pilot Central Bank Digital Currency (CBDC) program will look to explore crucial uses involving the settlement of Web3 transactions, tokenized assets, and tokenized deposits.

Also Read: Terra Classic (LUNC) Community Successfully Completed v2.0.1 Upgrade, What’s Next?

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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