Hong Kong-based Crypto Exchange HashKey Raises Nearly $100 Million Funding

Table of Contents

• Key Updates
• HashKey Exchange in Hong Kong

HashKey Group, the operator of licensed cryptocurrency exchange HashKey Capital in Hong Kong, has raised nearly $100 million in a recent funding round, according to multiple media reports.

Key Updates

• HashKey’s valuation has now surpassed $1.2 billion following the funding.
• The series A round included both existing and new investors whose identities have not been revealed.
• The funding will be used to expand HashKey’s Web3 ecosystem and launch licensed products for the Hong Kong market.
• Hong Kong aims to position itself as a Web3 hub while ensuring investor protection.

The series A funding round included participation from OKX Ventures, the investment arm of OKX digital asset exchange. However, OKX Ventures declined to provide an official comment.

HashKey Group had initially aimed to raise between $100 million to $200 million in May and target a valuation of over $1 billion. Despite the recent downturn in crypto venture capital funding, HashKey’s successful fundraising is noteworthy.

HashKey Exchange in Hong Kong

HashKey Exchange and BC Technology Group Ltd.’s OSL are the only licensed crypto trading platforms in Hong Kong. Since its launch in 2018, HashKey Exchange has grown to over 155,000 registered users and a reported spot trading volume of approximately $16 million.

Hong Kong aims to position itself as a Web3 hub while ensuring investor protection. HashKey Exchange and BC Technology Group Ltd.’s OSL are the only licensed crypto trading platforms in Hong Kong.

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