According to Bloomberg, China's Gaorong Capital has invested $300,000 in Hong Kong-registered cryptocurrency exchange HashKey.
This investment values HashKey at nearly $150 million, further cementing its position as a key player in Hong Kong’s regulated crypto market.
Key Investors and HashKey’s Growth
- Gaorong Capital: A private venture firm backed by major Chinese tech giants like Tencent, Alibaba, and Xiaomi.
- HashKey’s Funding: The exchange raised nearly $100 million** in a Series A round earlier this year, achieving a **$1.2 billion valuation and unicorn status.
Regulatory Milestones
- Licensed in Hong Kong since 2022 for securities trading and automated trading services.
- Received a virtual asset trading license under Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) on June 30, 2024.
- Expanded operations with licenses in Singapore, Japan, and Bermuda.
Challenges and Expansion
Despite its legitimacy, authorities have identified over 30 scam platforms impersonating HashKey to mislead investors.
Global Reach
- Europe: HashKey Europe secured VASP registration from Ireland’s Central Bank, enabling crypto trading and wallet services.
- Japan: Partnered with Ripple and SBI Ripple Asia to launch XRPL enterprise solutions for supply-chain finance.
Market Trends
- Crypto venture funding saw a modest rebound in Q4 2024, raising $4 billion**, but remains **$10 billion lower than the previous year.
👉 Explore secure crypto trading with trusted platforms
Hong Kong’s Crypto Landscape
- Recently licensed PantherTrade and YAX, bringing the total to 10 AMLO-approved exchanges since 2020.
FAQs
Q: Is HashKey a regulated exchange?
A: Yes, it holds multiple licenses, including Hong Kong’s AMLO approval and European VASP registration.
Q: Who are HashKey’s major investors?
A: Tencent, Alibaba, and Xiaomi-backed Gaorong Capital.
Q: What services does HashKey offer?
A: Securities trading, automated trading, and retail crypto services in licensed regions.
👉 Discover reliable crypto investment opportunities
Q: How does HashKey combat fraud?
A: It actively reports scam platforms and educates users through official channels.
Q: Where is HashKey expanding next?
A: Focused on Japan and Europe, with partnerships like Ripple’s XRPL solutions.
Q: What’s HashKey’s valuation?
A: Currently $1.2 billion, per its latest funding round.