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<p>As Hong Kong takes center stage in the regional crypto business, local firms are trying to expand their customer base.</p>
<p>One such firm, HashKey Group, is reportedly raising up to $200 million in funding to tap new opportunities.</p>
<h2 id="hashkey-eyes-200-million-in-funding">HashKey Eyes $200 Million in Funding</h2>
<p>Targeting a more significant share of the Asian crypto market, Hong Kong-based crypto financial service provider HashKey Group plans to expand its operations. The crypto investment fund is reportedly in early-stage talks with venture capitalists to raise $200 million at over $1 billion Valuation.</p>
<p>A Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-05-19/crypto-firm-seeks-funds-at-1-billion-plus-value-as-hk-opens-up?sref=3REHEaVI#xj4y7vzkg" data-wpel-link="external" target="_blank">report</a> said the details of the deal being discussed are not available as the talks are being held privately.</p>
<p>HashKey Group is in the entire crypto ecosystem – Exchange, Brokerage, Venture Capital, Custody Solutions, and Web3 Infrastructure. In addition, HashKey Pro holds a permit to operate virtual asset exchange in Hong Kong. Besides HashKey Pro, only OSL Exchange has this <a href="https://www.sfc.hk/en/Welcome-to-the-Fintech-Contact-Point/List-of-licensed-virtual-asset-trading-platforms" data-wpel-link="external" target="_blank">permit</a>.</p>
<h2 id="hashkey-capital-to-launch-two-liquid-funds">HashKey Capital to Launch Two Liquid Funds</h2>
<p>Meanwhile, HashKey Capital <a href="https://www.dealstreetasia.com/stories/hashkey-capital-funds-343567" data-wpel-link="external" target="_blank">plans</a> to launch at least two liquid funds to tap the opportunities in the secondary market, CEO of HashKey Capital and HashKey Singapore Deng Chao said in a recent interview.</p>
<p>In September last year, Hong Kong’s Securities and Futures Commission (SFC) <a href="https://cryptopotato.com/hong-kong-regulator-allows-hashkey-capital-to-manage-a-100-crypto-portfolio/" data-wpel-link="internal">granted</a> HashKey Capital, the investment arm of HashKey Group, a license to manage a portfolio of 100% digital assets.</p>
<h2 id="regional-crypto-hub">Regional Crypto Hub</h2>
<p>Hong Kong has moved steadily in recent months with plans to provide a transparent regulatory environment for crypto firms. In addition, it announced a timeline to allow retail trading in digital assets.</p>
<p>From June 1, Hong Kong will issue licenses to virtual digital asset service providers, paving the way for retail investors to trade in leading cryptocurrencies such as Bitcoin and Ether.</p>
<p>Several big-ticket conferences on digital assets have occurred in the city-state in the last few months, generating global interest in Hong Kong’s potential to emerge as a regional crypto business hub.</p>
<p>In a landmark decision recently, the Hong Kong High Court ruled that crypto is property and can be held in trust. The court ruling goes a long way in instilling confidence among crypto investors. The asset class is now <a href="https://cryptopotato.com/hong-kong-court-declares-crypto-to-be-property-in-new-ruling/" data-wpel-link="internal">at par</a> with other intangible assets such as stocks and bonds.</p>
<p>The post <a href="https://cryptopotato.com/crypto-investment-fund-hashkey-in-talks-to-raise-200m-at-1b-valuation-report/" rel="nofollow">Crypto Investment Fund HashKey in Talks to Raise $200M at $1B Valuation (Report)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

Crypto Investment Fund HashKey in Talks to Raise $200M at $1B Valuation (Report)

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