The operator of two licensed Hong Kong-based crypto exchanges, HashKey Group, has raised 100 million with a valuation of over $1 billion.
In a press release on Jan. 16, the Hong Kong-headquartered crypto administration firm stated it has secured almost $100 million in a Collection A financing spherical at a pre-money valuation above $1.2 billion. The corporate didn’t disclose its buyers, however famous that along with current shareholders, this financing spherical attracted new buyers, together with “outstanding institutional buyers.”
The proceeds from the funding are stated for use to “solidify HashKey‘s web3 ecosystem, speed up the product diversification of its licensed enterprise in Hong Kong, and drive the Group’s compliant and revolutionary growth globally.” HashKey says its crypto alternate referred to as HashKey Change has had each day common buying and selling quantity of $630 million prior to now 30 days.
Based in 2018, HashKey Group secured approval from the Securities and Futures Fee (SFC) in Hong Kong, positioning itself as one of many pioneering corporations licensed to function a crypto buying and selling platform within the metropolis. In late December 2023, HashKey Change said that crypto deposits higher than $1,024 will solely be allowed from Binance, saying the choice displays the corporate’s dedication to assembly regulatory requirements and making certain compliance in its operations.