Crypto gets a new unicorn - Hong Kong

HashKey Group, the operator of a licensed Hong Kong crypto exchange, raised nearly $100 million last week and got into the unicorn caucus. The company—which is involved in trading, venture funding, and asset management in Hong Kong and Singapore—now boasts a valuation exceeding $1.2 billion. While details of investors remain undisclosed, sources suggest OKX Ventures, associated with the OKX digital-asset exchange, is a lead contributor. HashKey plans to use the funds to expand its web3 ecosystem and enhance licensed products in Hong Kong. Since launching its trading service for retail investors in August, HashKey Exchange has amassed over 155,000 registered users, marking its ascent in Hong Kong’s tensioned crypto market.