Share this article
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Stablecoin Adoption Is ‘Exploding' — Here's Why Wall Street Is Going All-In
Alchemy co-founder and president Joe Lau said stablecoin adoption is exploding as banks, fintechs and payment platforms push beyond the USDT/USDC exchange era.
What to know:
- Stablecoin usage is quickly broadening from crypto-native exchanges into payments, payroll and treasury as companies chase 24/7, digital-native settlement, according to Alchemy Co-founder and President Joe Lau.
- Banks are pushing tokenized deposits as a regulated, bank-native alternative that delivers stablecoin-like benefits for institutional clients.
- The endgame is a two-track system — stablecoins for open, two-party settlement; deposit tokens for bank ecosystems, until scale forces convergence and competition, Lau said.
Top Stories
