HashKey Group, a digital asset financial services group in Asia, completed a Series A financing round, raising nearly US $100 million, according to press release shared with Blockchain.News by Hashkey. 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, which is used to describe startups valued over $1 billion.
In 2023, HashKey made significant strides in the Hong Kong virtual asset industry. It launched the first licensed virtual asset exchange App in Hong Kong, offering secure and seamless one-stop virtual asset trading services. Within 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.
HashKey Group’s newly raised capital will be used to further develop its Web3 ecosystem, enhance the product diversification of its licensed business in Hong Kong, and support the Group’s global expansion. HashKey’s core businesses include HashKey Capital, a global asset manager focusing exclusively on blockchain technology and digital assets; HashKey Cloud, a leading blockchain node validation service provider; HashKey Tokenisation, a tokenisation services provider; and HashKey NFT, a Web3 PFP incubation and community operation service provider.
Established in 2018, HashKey Group is headquartered in Hong Kong, with operations in Singapore and Tokyo. The Group provides innovative investment opportunities and end-to-end solutions in digital assets and the Web3 ecosystem to retail investors, large institutions, family offices, funds, and professional and accredited investors.
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. A notable participant in the funding round is reported to be OKX Ventures, the investment arm of the OKX digital-asset exchange, though no official confirmation was provided.
This funding round marks a significant achievement for HashKey Group, especially considering the recent challenges faced by the crypto venture capital space, marked by a downturn in 2022 following market volatility and high-profile bankruptcies.
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