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HashKey Group raises $100M at $1.2B valuation

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Jan 16, 2024
Illustration of a unicorn horn sticking out of a pile of cash.

Illustration: Maura Losch/Axios

Hong Kong-based crypto firm HashKey Group has raised US$100 million in a Series A funding round that values it above US$1.2 billion.

Why it matters: Following the collapse of multiple exchanges over the past 18 months, investors are again betting big on the sector.

Details: HashKey said in a statement that the financing came from undisclosed new and existing backers, but Bloomberg reports that OKX Ventures was a lead investor in the round.

Context: Founded in 2018, HashKey operates a series of venture capital, digital asset management and blockchain-related technology businesses.

  • The company runs one of just two licensed crypto exchanges in Hong Kong, which launched a dedicated virtual-asset regulatory framework last summer.

By the numbers: The company says it attracted more than 155,000 registered users in the four months since its launch and that it's had a daily average trading volume of US$630 million over the past 30 days.

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