Beijing-based enterprise capital agency Gaorong Ventures has reportedly backed HashKey Group with $30 million, valuing the operator of Hong Kong’s prime crypto change at $1.5 billion.
Hong Kong-based HashKey Group has secured a $30 million funding from Beijing’s Gaorong Ventures, making it a uncommon transfer by a Chinese language agency into the crypto house, Bloomberg has discovered, citing individuals conversant in the matter.
Gaorong Ventures, which has beforehand backed Chinese language web giants like Meituan and PDD Holdings, invested in HashKey at a pre-money valuation of over $1 billion, a determine that has remained principally unchanged for the reason that firm reached unicorn standing in 2024 after elevating $100 million. A HashKey spokesperson, in a press release to Bloomberg, confirmed that Gaorong’s $30 million funding places the post-money valuation at near $1.5 billion.
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The funding comes only a week after HashKey Capital, the funding arm of HashKey Group, acquired approval from Hong Kong’s Securities and Futures Fee to supply discretionary account administration for cryptocurrencies. The approval means HashKey Capital can handle funding merchandise like spot crypto, derivatives, and even over-the-counter trades for rich shoppers.
Based in 2018, HashKey Group is a Hong Kong-based crypto firm providing providers like change buying and selling, custody, brokerage, enterprise capital, asset administration, and node validation. The corporate is licensed by a number of monetary regulators, together with the British Monetary Conduct Authority, and likewise holds licenses in Hong Kong, Singapore, Japan, and Dubai.
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