After obtaining a comprehensive capital markets license in Singapore, Hashkey Group announced it has successfully garnered $100 million through a Series A funding round. The fresh injection of capital is earmarked for expediting the growth of their licensed operations in Hong Kong, while simultaneously strengthening the company’s Web3 initiatives.
$100 Million Funding Aims to Fuel Expansion and Strengthen Web3 Initiatives
On Tuesday, Hashkey Group, based in Hong Kong, disclosed its successful fundraising of $100 million from a mix of strategic partners, institutional backers, and Web3 entities. This infusion of funds elevates the company to unicorn status, with an estimated valuation of approximately $1.2 billion.
In their Tuesday announcement sent to Bitcoin.com News, the company elaborated, “The newly raised capital will be used to solidify Hashkey’s Web3 ecosystem, accelerate the product diversification of its licensed business in Hong Kong, and drive the Group’s compliant and innovative development globally.”
The latest development comes on the heels of Hashkey securing a comprehensive Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS). Hashkey Exchange, the firm’s trading platform, boasts over 155,000 registered users and a trading volume of $630 million in the past month. On Tuesday, the group further highlighted its establishment of partnerships with six publicly traded companies and ten brokerage houses.
According to Crunchbase, Hashkey has executed 85 distinct investments, channeling funds into startups like Fetcch and Range Protocol. Notably, Hashkey recently spearheaded a $5 million pre-Series A funding round for 0xscope, with contributions also coming from GSR Markets, Redpoint China, Amber Group, and Okx Ventures.
What do you think about Hashkey Group raising $100 million? Share your thoughts and opinions about this subject in the comments section below.
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