Hong Kong-based HashKey Group has concluded a Series A funding round, raising $100 million. The group, which includes an SFC-licensed cryptocurrency exchange, asset management, staking services, tokenization, and NFT offerings, has been valued at $1.2 billion.
The holding company, which focuses on institutional clients, also operates in Singapore and Tokyo.
The participants in the funding round have not been disclosed.
The company announced the addition of new shareholders, including well-known institutional investors, leading Web3 institutions, and strategic partners.
The funds raised will be used to strengthen the ecosystem, accelerate the diversification of the trading platform’s products, and foster innovative development.
According to a press release, the cryptocurrency exchange attracted 155,000 users within four months of its launch. The organization has established strategic partnerships with more than ten brokers and six public companies.
In January, HashKey’s COO Livio Weng noted that about a dozen securities firms in Hong Kong are exploring the possibility of launching spot Bitcoin ETFs.
In November, ForkLog reported that the SFC is considering allowing retail investors access to such products.