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HashKey Group Launches Global Exchange, Expands Digital Asset Services in Asia

TL;DR

  • HashKey Group announces the launch of HashKey Global exchange after securing a Bermuda license for digital assets trading.
  • The company aims to become the world’s largest network of licensed exchanges within five years, with assets expected to grow to over $1 billion by 2024.
  • HashKey Global now offers spot trading in 21 cryptocurrencies and plans to introduce futures trading products shortly.

HashKey Group, a leading digital asset service provider in Asia, has announced the launch of its HashKey Global exchange. This move comes after a successful acquisition of a license in Bermuda for carrying out licensed digital assets trading activities, which was announced on Monday.

Livio Weng, Chief Operating Officer of HashKey Group, commented that the company seeks to build the biggest grid of licensed exchanges worldwide within five years, overtaking all regulated exchanges around the globe.

Hashkey’s expansion plans

Weng revealed that HashKey’s assets under management have already reached HK$2 billion (about $255 million) and are expected to grow to HK$8 billion by the end of 2024. For international growth, the company concentrated on its headquarters in Hong Kong and planned to concentrate efforts in the Asia-Pacific region during the next five years.

Based in Hong Kong, the HashKey Group has branches in Singapore and Tokyo and became a unicorn this year, almost reaching the $100 million fundraiser target, Cryptopolitan reported.

Weng has taken the company’s decision to get more funds to support its business expansion activities. HashKey is currently engaged in active discussions with prospective investors, but the exact amount of money to be received is not known. Nonetheless, the indications are that the number will exceed the $100 million raised in the previous Series A funding round, putting the company’s valuation at over $1.2 billion.

At present, HashKey Global is offering spot trading options for 21 types of cryptocurrencies, among which are bitcoin (BTC), ether (ETH), Tether’s USDT, and Circle’s USDC. In addition, the asset supplier plans to launch futures trading products within the next few weeks.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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