HashKey Group Raises Nearly $100 Million in Series A Financing Round
HashKey Group, a digital asset financial services group in Asia, has successfully completed a Series A financing round, raising nearly US $100 million. This funding brings the company’s pre-money valuation to over US $1.2 billion, elevating HashKey to “unicorn” status in the venture capital industry.
Expansion in the Hong Kong Virtual Asset Industry
In 2023, HashKey made significant strides in the Hong Kong virtual asset industry by launching the first licensed virtual asset exchange App in Hong Kong. The exchange offers secure and seamless one-stop virtual asset trading services. Within just four months of its launch, the HashKey Exchange registered over 155,000 users and reported a daily average trading volume of US$630 million over the past 30 days. The exchange has also established strategic partnerships with over ten brokerage firms and six public listed companies.
Future Development Plans
HashKey Group plans to utilize the newly raised capital to further develop its Web3 ecosystem, enhance the product diversification of its licensed business in Hong Kong, and support the Group’s global expansion. The group’s core businesses include HashKey Capital, HashKey Cloud, HashKey Tokenisation, and HashKey NFT, each providing specialized services in the blockchain technology and digital assets space.
About HashKey Group
Established in 2018, HashKey Group is headquartered in Hong Kong, with operations in Singapore and Tokyo. The group offers innovative investment opportunities and end-to-end solutions in digital assets and the Web3 ecosystem to a wide range of investors, including retail investors, large institutions, family offices, funds, and professional and accredited investors.
Institutional Investors and Strategic Partners
The Series A financing round attracted new investors, including institutional investors, Web3 institutions, and strategic partners. However, the specific identities of these investors were not disclosed. One notable participant in the funding round is reported to be OKX Ventures, the investment arm of the OKX digital-asset exchange, although no official confirmation has been provided.
This funding round is a significant achievement for HashKey Group, particularly in light of the challenges faced by the crypto venture capital space in recent years. The industry experienced a downturn in 2022 following market volatility and high-profile bankruptcies.
HashKey Group’s success in raising nearly $100 million in its Series A financing round demonstrates the confidence and support it has garnered from investors. With this capital infusion, the group is well-positioned to continue its growth and contribute to the development of the digital asset and Web3 ecosystem.