Hong Kong-based crypto investment firm HashKey Group is reportedly seeking to raise funds at a valuation exceeding $1 billion.
According to insider sources cited in a Bloomberg report, the company currently engages in initial discussions with potential investors for a funding round to secure $100-200 million. However, it is important to note that the raise terms have not yet been finalized.
Currently, HashKey Group has not provided an immediate response to requests for comment regarding this development. The news arrives amidst Hong Kong’s efforts to revitalize the cryptocurrency sector within the city.
Regulators are preparing to introduce a new regulatory framework specifically for crypto exchanges, and local financial institutions have been instructed to collaborate with deserving crypto firms to facilitate their access to banking services.
Established in 2018, HashKey Group encompasses various business verticals, including venture capital investments, asset management, and trading. Notably, the company operates one of the two licensed cryptocurrency exchanges in Hong Kong, known as HashKey Pro. The other licensed exchange is OSL, operated by BC Technology Group.
With the potential funding raise, HashKey Group aims to consolidate its position in the crypto industry and further expand its operations. The valuation surpassing $1 billion indicates strong investor interest and confidence in the company’s prospects.
As the discussions with potential investors are still in the early stages, further details regarding the funding round, such as the participating investors and the deployment of the raised capital, are yet to be disclosed.
HashKey Group’s fundraising endeavors align with the growing prominence of cryptocurrencies and blockchain technology in the financial landscape. Investors increasingly recognise digital assets’ potential, prompting firms like HashKey to seek capital to seize opportunities in this burgeoning market.
As the negotiations progress and the raise becomes finalized, HashKey Group’s future trajectory within the crypto space will become clearer.
