HashKey Group Secures $100 Million in Series A Funding

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HashKey Group, a digital asset financial services group in Asia, has completed a Series A funding round, raising nearly US$100 million, according to a press release shared with Blockchain.News by Hashkey. This funding brings the company’s pre-money valuation to over $1.2 billion, elevating HashKey to “unicorn” status in the venture capital industry, which is used to describe startups valued at over $1 billion.

In 2023, HashKey has made significant strides in the virtual asset industry in Hong Kong. It launched the first licensed virtual asset exchange application in Hong Kong, offering secure and hassle-free one-stop virtual asset trading services. Within four months of its launch, HashKey Exchange registered over 155,000 users and reported an average daily trading volume of US$630 million over the past 30 days. The exchange has also established strategic partnerships with over ten brokerage firms and six public companies.

HashKey Group’s newly raised capital will be used to further develop its Web3 ecosystem, enhance the product diversification of its licensed business in Hong Kong and support the group’s global growth. HashKey’s core businesses include HashKey Capital, a global asset manager focused exclusively on blockchain technology and digital assets; HashKey Cloud, a leading provider of blockchain node validation services; HashKey Tokenisation, a tokenisation service provider; and HashKey NFT, a Web3 PFP incubation and community outreach service provider.

Established in 2018, HashKey Group is headquartered in Hong Kong, with operations in Singapore and Tokyo. The group provides innovative investment opportunities and end-to-end solutions in digital assets and the Web3 ecosystem to retail investors, large institutions, family offices, funds and 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 the funding round is reported to be OKX Ventures, the investment arm of digital asset exchange OKX, although no official confirmation was provided.

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This funding round marks a significant achievement for HashKey Group, especially given the recent challenges facing the crypto venture capital space, marked by a decline in 2022 following market volatility and high-profile bankruptcies.

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