Hashkey Group Seeks Valuation of $1 Billion
• Hashkey, a prominent player in the cryptocurrency investment landscape, is currently engaged in preliminary discussions to secure a substantial funding round ranging from $100 million to $200 million.
• The government of Hong Kong has been diligently fostering the development of the digital asset sector as part of a broader endeavour to restore the city’s reputation as a pioneering financial hub.
• Prominent exchanges such as OKX and Bitget have expressed their intent to seek licensure under Hong Kong’s new regulatory framework.
Hashkey: A Diversified Investment Portfolio
Hashkey Group is one of many local firms striving to expand their customer base within Hong Kong’s rapidly liberalising environment. With a diversified portfolio spanning venture funding, asset management, and trading, Hashkey is looking to secure large amounts of funding with an ambitious valuation target of $1 billion.
Hong Kong: A Crypto-Friendly Financial Hub
The government of Hong Kong has been actively supporting the digital asset sector in order to reestablish its position as a leading financial hub. This endeavour includes enabling retail trading of major cryptocurrencies on licensed exchanges like Hashkey, ultimately aiding in reversing the previous talent exodus triggered by Covid-related restrictions. At present, Hashkey and BC Technology Group Co.’s OSL bourse are the sole licensed operators in the field but other exchanges such as OKX and Bitget have also expressed their intent to seek licensure under Hong Kong’s new regulatory framework.
China’s Reassessment Of Cryptocurrency Strategy
The Chinese government appears to be using Hong Kong as a ring fenced testing ground for cryptocurrency technology while keeping crypto out of mainland China for now. From next month onwards, retail investors will be able to trade certain major cryptocurrencies such as Bitcoin and Ethereum thanks to Hong Kong’s new licensing regime.
Disclaimer
This article is provided for informational purposes only and should not be used or intended as legal, tax, investment, financial or other advice.