As Hong Kong has worked to create a clear legislative framework for digital assets, HashKey Group is hoping to benefit from the city’s resurgence as a potential hub for the industry.
HashKey Group Aims to Raise Up to $200M at a $1B Valuation
HashKey, a provider of financial services for digital assets, intends to seek funds at a $1 billion value, according to a Friday Bloomberg article. According to the article, which relied on persons with knowledge of the situation, the Asia-based HashKey is in preliminary discussions to raise between $100 million and $200 million.
Why Hong Kong?
As Hong Kong tries to establish a clear legislative framework for digital assets, the company intends to benefit from the city’s recent revival as a potential crypto hub. In addition, after a few years of COVID-related regulations having a negative impact on the economy, Hong Kong is attempting to entice crypto companies to its shores in order to increase investment and funds.
About HashKey
The Securities and Futures Commission (SFC) of Hong Kong granted permission to HashKey, one of the first companies, to run a virtual asset trading platform. Last month, HashKey announced plans to launch a regulated exchange in Q2 of this year.
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