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HashKey Raises Nearly $100M in Series A Funding; Bolsters Hong Kong's Crypto Appeal

Algoine News
Summary:
Hong Kong-based cryptocurrency exchange HashKey has secured almost $100 million in a Series A fundraising round, with a pre-investment valuation exceeding $1.2 billion. The funds will be utilized for various business operations including asset management, blockchain validation, token services, and a Web3 incubation division. Though HashKey did not unveil the investors, Bloomberg reports suggest OKX Ventures as a lead investor. HashKey is among the earliest exchanges to be licensed in Hong Kong in an effort to attract cryptocurrency businesses.
In a recent Series A fundraising round, the cryptocurrency trading platform HashKey, based in Hong Kong, has successfully attracted close to $100 million, at a pre-investment valuation surpassing $1.2 billion. On January 16, the exchange revealed plans to allocate this capital to its various operational sectors such as asset management, blockchain node validation, token services, and a Web3 incubation division. Despite not revealing the participants in its fundraising round, a January 16 report by Bloomberg indicated that OKX Ventures, the investment wing of rival exchange OKX, was a primary investor, according to individuals knowledgeable about the situation. Among the pioneer establishments to attain a license in Hong Kong in the region's bid to entice cryptocurrency enterprises, HashKey stands out.

Published At

1/16/2024 5:54:36 AM

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