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Digital Asset Firm HashKey Group Looks to Raise up to $200M at $1B Valuation: Bloomberg
The firm is looking to capitalize on Hong Kong's re-emergence as a potential crypto hub as the city has looked to formulate a clear regulatory structure for digital assets.
Updated May 19, 2023, 9:16 a.m. Published May 19, 2023, 9:16 a.m.
Digital asset financial services firm HashKey Group is planning to raise funds at $1 billion valuation, according to a Bloomberg report on Friday.
The Asia-based HashKey is in preliminary talks to raise between $100 million to $200 million, according to the report, which cited people familiar with the matter.
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The firm is looking to capitalize on Hong Kong's re-emergence in recent months as a potential crypto hub as the city has looked to formulate a clear regulatory structure for digital assets.
Hong Kong is looking to attract crypto firms to its shores as a means of generating greater investment and capital, following a few years of restrictions related to COVID taking their toll on the economy.
HashKey was one of the first firms to be approved to operate a virtual asset trading platform by Hong Kong's Securities and Futures Commission (SFC), subsequently announcing plans last month to introduce a regulated exchange in Q2 of this year.
The company did not immediately respond to CoinDesk's request for comment.
Read More: Hong Kong Regulator Reminds Local Banks There Is No Ban on Crypto Firms
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