Hong Kong’s HashKey Group announces completion of nearly $100 million A round financing

Hong Kong's HashKey Group announces completion of nearly $100 million A round financing

Hong Kong's HashKey Group announces completion of nearly $100 million A round financing

Hong Kong digital asset group HashKey Group announced on Tuesday (16th) that it has completed a Series A financing of nearly $100 million with a pre-investment valuation of over $1.2 billion. The company did not disclose the investors participating in this round of financing.

In a statement, HashKey stated that the group plans to use the newly raised funds to “deepen the HashKey’s full ecological layout in the virtual asset industry, accelerate the diversification of licensed business products in Hong Kong, and promote compliant innovation and development of the group globally.”

HashKey stated that this round of financing has received active subscriptions and support from existing shareholders, and the new investors include large institutional investors, leading Web3 institutions, and strategic partners.

HashKey Exchange, a subsidiary of HashKey Group, is one of the first cryptocurrency exchanges to obtain a license under the new licensing system of Hong Kong’s regulatory agency last year, allowing it to provide trading services to retail users. According to today’s statement by the group, HashKey Exchange currently has over 155,000 registered users and an average daily trading volume of $630 million in the past 30 days.

According to The Block, HashKey is in talks with several asset management companies exploring the launch of potential cryptocurrency spot ETFs. The company stated that it may participate in potential cryptocurrency spot ETFs in Hong Kong through two main aspects – engaging in cryptocurrency transactions related to ETFs and providing cryptocurrency custody services.

Related reports: “Hong Kong HashKey Exchange officially launches App, platform currency HSK may be listed in mid-next year” and “HashKey Capital launches liquid cryptocurrency asset fund, diversifying into altcoins.”