Hong Kong digital asset group HashKey Group announced on Tuesday (16th) that it has completed a nearly $100 million Series A financing with a pre-money valuation of over $1.2 billion. The company did not disclose details of 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 HashKey’s full ecosystem layout in the virtual asset industry, accelerate the diversification of licensed business products in Hong Kong, and promote the group’s compliant and innovative development globally.”
HashKey stated that this round of financing received active subscription and support from existing shareholders, with new investors including large institutional investors, leading Web3 institutions, and strategic partners.
HashKey Group’s exchange, HashKey Exchange, was one of the first cryptocurrency exchanges to receive a license under Hong Kong’s new licensing regime for retail users last year. The group stated in today’s announcement that HashKey Exchange currently has over 155,000 registered users, with a daily average trading volume of $630 million in the past 30 days.
According to a report by “The Block,” HashKey is in discussions with several asset management companies exploring the potential launch of cryptocurrency spot ETFs. The company stated that it may participate in Hong Kong’s potential cryptocurrency spot ETF through two main aspects – engaging in cryptocurrency trading related to ETFs and providing cryptocurrency custody services.
Related reports: “Hong Kong HashKey Exchange officially launches App, platform token HSK may be listed by mid-next year” and “HashKey Capital launches liquid cryptocurrency asset fund, will diversify allocation to altcoins.”