HashKey Group secures $100 million in Series A funding
HashKey Group, an Asian digital asset financial services group, has completed its Series A funding round, raising approximately $100 million, according to a press release Hashkey shared with Blockchain.News. The funding increased the company’s pre-emptive valuation to over US$1.2 billion and elevated HashKey to “unicorn” status in the venture capital industry. It is used to describe startups valued at over $1 billion.
In 2023, HashKey has made great strides in the Hong Kong virtual asset industry. Launched Hong Kong’s first licensed virtual asset exchange app, providing safe and seamless one-stop virtual asset trading services. HashKey Exchange has registered over 155,000 users within four months of launch and has reported an average daily trading volume of $630 million over the past 30 days. Additionally, the exchange has established strategic partnerships with more than 10 brokerage firms and 6 listed companies.
HashKey Group’s newly raised capital will be used to further develop the Web3 ecosystem, enhance product diversification of the licensing business in Hong Kong, and support the group’s global expansion. HashKey’s core businesses include HashKey Capital, a global asset manager focused exclusively on blockchain technology and digital assets; HashKey Cloud, a leading blockchain node verification service provider; HashKey Tokenisation, a tokenization service provider. HashKey NFT, a Web3 PFP incubation and community operation service provider.
Founded in 2018, HashKey Group is headquartered in Hong Kong and operates in Singapore and Tokyo. The Group provides innovative investment opportunities and end-to-end solutions on digital assets and the Web3 ecosystem to individual investors, large institutions, family offices, funds, professional and accredited investors.
The Series A funding 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 this funding round is said to be OKX Ventures, the investment arm of the OKX digital asset exchange, but no official confirmation has been provided.
This funding round is a significant achievement for HashKey Group, especially considering the recent challenges facing the cryptocurrency venture capital space, marked by market volatility in 2022 and a downturn following high-profile bankruptcies.
Image source: Shutterstock
