Hashkey Group Seeks $1 Billion Valuation in Ambitious Funding Drive


Hashkey Launches Funding Drive Valued at $1 Billion

  • Prominent cryptocurrency investment firm Hashkey is planning to launch a substantial funding round ranging from $100 million to $200 million.
  • The Hong Kong government is fostering the development of the digital asset sector to restore the city’s reputation as a pioneering financial hub.
  • Licensed exchanges like Hashkey and BC Technology Group Co.’s OSL bourse will enable retail trading of major cryptocurrencies in Hong Kong.

Hashkey Group’s Funding Drive

Hashkey Group, a prominent player in the cryptocurrency investment landscape, is embarking on an ambitious funding drive for a valuation of $1 billion. According to Bloomberg, sources familiar with the matter have disclosed that Hashkey is currently engaged in preliminary discussions to secure a substantial funding round ranging from $100 million to $200 million. While the deal is steadily progressing, the specific details including size and valuation are yet to be finalised and remain subject to potential adjustments. With a diversified portfolio spanning venture funding, asset management, and trading, Hashkey seeks to expand its customer base within Hong Kong’s rapidly liberalising environment.

Hong Kong Becoming Crypto-Friendly

The government of Hong Kong has been diligently fostering the development of the digital asset sector as part of a broader endeavour to restore the city’s reputation as a pioneering financial hub. As part of these efforts, retail trading of major cryptocurrencies such as Bitcoin and Ethereum will be enabled on licensed exchanges like Hashkey and BC Technology Group Co.’s OSL bourse starting next month. Prominent exchanges such as OKX and Bitget have also expressed their intent to seek licensure under Hong Kong’s new regulatory framework. It appears that China may use Hong Kong as a testing ground for cryptocurrency technology while keeping crypto out of Chinese mainland for now.

Impact on Local Economy

The move by Hong Kong may ultimately rejuvenate the local economy by reversing talent exodus triggered by Covid-related restrictions. The influx of capital into licensed crypto businesses operating out of Hong Kong could potentially trigger job creation opportunities across multiple sectors such as finance, software engineering, legal advice etc., thereby further strengthening economic foundations in this vibrant island nation..

Disclaimer

This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice

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