Hong Kong Crypto Exchange HashKey Becomes Unicorn After $100M Funding

HashKey has officially made unicorn status after raising $100 million in a Series A funding round.

The Hong Kong-based crypto exchange said the funding round consisted of “prominent institutional investors, leading Web3 institutions, and strategic partners," but did not disclose the names of investors.

Its pre-money valuation of $1.2 billion earns the firm unicorn status.

Raised funds will go towards HashKey's Web3 ecosystem, product diversification, innovation and compliance.

HashKey launched Hong Kong's first licensed virtual asset exchange app in November 2023. Within four months of launch, registered users surpassed 155,000, with a daily average trading volume of US$630 million in the past 30 days. 

DigiFT Partnership

MAS licensed exchange DigiFT is also strengthening its partnership with HashKey by offering regulated treasury management and diversified investment services for its portfolio companies.

Under the partnership, DigiFT will customize and tailor asset packages for HashKey Capital’s portfolio companies. DigiFT is the first licensed on-chain RWA exchange in Singapore.

In December, DigiFT obtained a Capital Markets Services (CMS) licence and recognition as a Recognised Market Operator (RMO) from MAS.

HashKey also obtained a CMS license from MAS in the same month. Through the license, HashKey can operate as a licensed fund management company and is permitted to provide regulated fund management services primarily involving capital markets products in Singapore.

Pando Finance Partnership

In another announcement, HashKey revealed it has collaborated with asset management company Pando Finance, which is regulated by the Securities and Futures Commission of Hong Kong.

The partnership will focus on financial technology, blockchain education, digital asset trading, and digital transformation in the future.