Hong Kong-based crypto firm HashKey Group has received a significant $30 million investment from Beijing's venture capital firm Gaorong Ventures.
Gaorong Ventures' Investment in HashKey Group
Gaorong Ventures, known for its investments in Chinese internet giants, has invested $30 million in HashKey Group at a company valuation of $1.5 billion. This is a rare move for a Chinese company into the crypto space, especially considering that the company's valuation has remained mostly unchanged since reaching unicorn status in 2024.
Achievements and Growth of HashKey Group
This investment followed HashKey Capital, the group's investment arm, receiving approval from Hong Kong's Securities and Futures Commission to manage crypto investment accounts. This allows the company to manage products for wealthy clients, including spot cryptocurrencies, derivatives, and over-the-counter trades.
Regulatory Licenses and Services of HashKey Group
Founded in 2018, HashKey Group offers a broad array of services, including exchange trading, custody, brokerage, venture capital, asset management, and node validation. The company holds licenses from various regulators such as the Financial Conduct Authority of the UK, and it is also licensed in Hong Kong, Singapore, Japan, and Dubai.
Investment from Gaorong Ventures helps bolster HashKey Group's position in the cryptocurrency market, providing clients with extensive investment opportunities and services.
