Journalists learned about the plans of HashKey Capital to receive a $1 billion valuation

Hong Kong-based firm HashKey Group plans to raise between $100 million and $200 million in a new funding round at a valuation of over $1 billion, citing people familiar with the matter. Bloomberg.

Negotiations are at an early stage, the terms of a potential deal may change.

The company intends to take advantage of the desire of the authorities of the special administrative region of China to turn Hong Kong into a crypto hub.

HashKey Group, a subsidiary of the Chinese conglomerate Wanxiang Group, was one of the first investors in Ethereum in 2014. The firm operates in areas ranging from venture capital financing to asset management and trading.

Hashkey operates one of two licensed cryptocurrency exchanges in Hong Kong. The platform will be launched before the end of the second quarter.

According to the rules proposed in February, from June 1, 2023, all centralized exchanges doing business in the jurisdiction or interacting with local investors must be licensed by the Securities and Futures Commission.

Recall that in January 2023, HashKey Capital closed the third fund for $500 million. The structure is aimed at investing in crypto assets and focuses on infrastructure solutions and decentralized applications.

Hong Kong-based firm HashKey Group plans to raise between $100 million and $200 million in a new funding round at a valuation of over $1 billion, citing people familiar with the matter. Bloomberg.

Negotiations are at an early stage, the terms of a potential deal may change.

The company intends to take advantage of the desire of the authorities of the special administrative region of China to turn Hong Kong into a crypto hub.

HashKey Group, a subsidiary of the Chinese conglomerate Wanxiang Group, was one of the first investors in Ethereum in 2014. The firm operates in areas ranging from venture capital financing to asset management and trading.

Hashkey operates one of two licensed cryptocurrency exchanges in Hong Kong. The platform will be launched before the end of the second quarter.

According to the rules proposed in February, from June 1, 2023, all centralized exchanges doing business in the jurisdiction or interacting with local investors must be licensed by the Securities and Futures Commission.

Recall that in January 2023, HashKey Capital closed the third fund for $500 million. The structure is aimed at investing in crypto assets and focuses on infrastructure solutions and decentralized applications.