Hong Kong exchange HashKey closes $100M funding at over $1.2B valuation

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Hong Kong-based crypto exchange HashKey has raised nearly $100 million in a Series A funding round at a pre-money valuation of over $1.2 billion.

The exchange said on Jan. 16 that the funds would be put toward its business arms, which include asset management, a blockchain node validation service, a tokenization service and a Web3 incubation arm.

HashKey did not disclose the investors for its round, but a Jan. 16 Bloomberg report citing people familiar with the matter named OKX Ventures, the investment arm of competing exchange OKX, as among the lead investors.

Related: Hong Kong to oblige stablecoin issuers to obtain license — Consultation paper

HashKey was among the first exchanges licensed in Hong Kong amid the region’s push to attract crypto businesses.

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