The valuation looks at $1 billion! Hong Kong HashKey is seeking US$100-200 million in financing

According to “Bloomberg” report, cryptocurrency investment company HashKey Group intends to take advantage of the Hong Kong government’s determination to develop the virtual asset ecosystem and raise funds of US$100 million to US$200 million at a valuation of more than US$1 billion.

Founded in 2018, HashKey is the only cryptocurrency exchange in Hong Kong that holds a virtual asset license. Its main business also includes custody, brokerage services, venture capital, asset management, and node verification services.

People familiar with the matter, who requested anonymity because the news is not public, said that HashKey is currently in early negotiations on financing matters and has been making progress, but details such as financing scale and valuation may still change.

A HashKey representative declined to comment on the above news.

HashKey has previously announced that its new compliance trading platform “HashKey PRO” will be officially launched in the second quarter of this year. For this purpose, it has established partnerships with ZA Bank and Bank of Communications (Hong Kong). It will serve as a settlement bank to provide HashKey Pro with legal currency deposit and withdrawal services.

The Hong Kong Virtual Asset Service Provider (VASP) licensing system will be officially implemented on June 1 this year, and it intends to open retail investors to invest in mainstream cryptocurrencies such as Bitcoin and Ethereum. As for the licensing system for stablecoins, it is expected to be implemented this year or next year.