HashKey Group Raises $100M, Achieves Unicorn Status

The Hong Kong-based crypto exchange plans to use the funding to develop its Web3 ecosystem and expand its licensed business.

HashKey Group, a Hong Kong-based cryptocurrency exchange, has raised nearly $100 million in a Series A funding round, reaching a valuation of over $1.2 billion and achieving 'unicorn' status.
The funding round attracted both existing and new investors, including institutional investors, Web3 institutions, and strategic partners, although specific investors were not disclosed.
HashKey plans to use the newly raised capital to develop its Web3 ecosystem, enhance compliance, and expand its product offerings for its licensed business in Hong Kong.
HashKey became one of the first licensed crypto exchanges in Hong Kong to offer services to retail users in August 2023, and currently has over 155,000 registered users with a daily average trading volume of $630 million.
HashKey is also in talks with several asset managers about the launch of potential spot crypto exchange-traded funds (ETFs) and may participate in potential spot crypto ETFs in Hong Kong through engaging in crypto transactions associated with ETFs and providing crypto custody service.