HashKey Group Valuation Exceeds $1B After New Funding Round Worth $100M

Key Points:

• Hong Kong crypto exchange operator HashKey Group has raised nearly $100 million in a funding round.
• HashKey Group valuation has now exceeded $1 billion after a capital call.
• The funds will be utilized by HashKey to expand its web3 ecosystem and develop licensed products in Hong Kong.

Hong Kong-based HashKey Group, operator of one of the city’s licensed crypto exchanges, announced a successful funding round that raised close to $100 million, propelling the HashKey Group valuation beyond $1 billion, making it a newly minted unicorn.

According to Bloomberg, the funding, contributed by both existing and new investors, aims to fuel the expansion of HashKey’s web3 ecosystem and the development of licensed products in Hong Kong.

While the company did not disclose the identities of the investors, insiders revealed that OKX Ventures, the investment arm of the OKX digital-asset exchange, emerged as a leading participant in the funding round. It emphasized that HashKey Group valuation exceeds $1.2 billion.

Established in 2018, HashKey, a renowned Web3 ecosystem developer, operates under the umbrella of HashKey Group, a financial entity headquartered in Hong Kong. The company specializes in managing diverse assets for both large economic entities and individual clients, primarily operating in the Shanghai and Japanese markets.

HashKey engages in various activities, including running a trading platform, venture funding, and asset management services in Hong Kong and Singapore.

Positioned as part of the crypto businesses capitalizing on Hong Kong’s initiative to become a digital-asset hub, HashKey’s latest funding round echoes its May discussions, where it contemplated raising between $100 million and $200 million, targeting a valuation surpassing $1 billion.