Asia-based digital asset investment firm HashKey Group aims to raise funds for its expansion at a valuation of $1000 million. This strategic move aligns with Hong Kong’s efforts to promote digital assets.
Bloomberg reports that HashKey is currently engaged in talks with potential investors to secure funding within the range of $100 million to $200 million, with a targeted valuation of $1 billion. This information comes from sources familiar with the matter, as disclosed on Friday.
With Hong Kong’s resurgence as a potential crypto hub in recent months, the crypto investment firm aims to leverage this opportunity. The city has been actively working towards establishing a well-defined regulatory framework for digital assets, promoting the firm to capitalize on this favorable environment.
As one of the pioneers in the field, HashKey was among the first firms to receive approval from Hong Kong’s Securities and Futures Commission (SFC) to operate a virtual asset trading platform. Notably, it also operates one of the city’s two licensed digital coin exchanges, solidifying its prominent position in the industry.
Amidst the volatile nature of the crypto market, Hong Kong has emerged as an inviting destination for crypto firms. The region recognizes the potential of such firms to attract increased investment and capital, presenting an opportunity for growth and expansion in the industry.
Also read: Ripple & Fubon Bank Partner for Hong Kong CBDC Pilot Program
