HashKey Group Secures $100 Million in Series A Funding, Valuation Surpasses $1.2 Billion

The owner of two Hong Kong-based, legal cryptocurrency exchanges, HashKey Group, has secured around $100 million in a Series A funding round, valuing the company at more than $1.2 billion pre-money. This important milestone was highlighted in a news release on January 16 by the 2018-founded crypto management firm with its headquarters located in Hong Kong.

While HashKey Group did not disclose specific details about the investors, it mentioned the participation of both existing shareholders and new investors, including “prominent institutional investors.” This strategic financing round is expected to play a crucial role in the company’s growth and development. The raised capital will be utilized to fortify HashKey’s web3 ecosystem, expedite product diversification for its licensed business in Hong Kong, and drive compliant and innovative global development initiatives.

HashKey Exchange’s Robust Performance

HashKey Exchange, the cryptocurrency exchange owned by HashKey Group, has been a major force in the market for cryptocurrency trading. The average daily trading volume on the platform over the last 30 days has been a very respectable $630 million. After receiving clearance from the Securities and Futures Commission (SFC) in Hong Kong, HashKey Exchange’s success has cemented the company’s status as a pioneer in the cryptocurrency field.

As a preventive measure, HashKey Exchange implemented a policy in late December 2023 that limited cryptocurrency deposits above $1,024 to coming exclusively from Binance. This choice is in line with the business’s dedication to upholding legal requirements and guaranteeing compliance across its activities. The goal of HashKey Group’s proactive regulatory compliance approach is to establish the company as a reliable and law-abiding player in the developing cryptocurrency space.

The new Series A fundraising is expected to serve as a catalyst for future innovation and expansion, solidifying HashKey Group’s position as a major player in the cryptocurrency exchange market as it continues to broaden its reach and improve its capabilities.