"Shares of digital asset firm Hashkey Group start trading in Hong Kong today, following the firm's IPO last week. The Chinese city has steadily embraced digital assets since 2022 as it tries to maintain its status as a global financial center. Hashkey Group, founded in 2018, operates a Hong Kong-licensed crypto exchange, the city's largest. According to its IPO prospectus, Hashkey's exchange has facilitated 1.7 trillion Hong Kong dollars ($218 billion) in trading volume as of Sep. 30, 2025."
"The broader group also offers on-chain services, like staking and tokenization, as well as asset management services. Hashkey generated 283 million Hong Kong dollars ($36 million) in revenue for the first half of 2025, a 26% year-on-year drop, according to the prospectus. Hashkey raised 1.6 billion Hong Kong dollars ($206 million) in its IPO, both Bloomberg and Reuters reported, citing an unnamed source."
"Hong Kong has tentatively embraced cryptocurrencies and digital assets as a way to shore up its status as an international financial center. The city, alongside Singapore, was one of the first jurisdictions in Asia to set up a licensing regime for cryptocurrency exchanges. Eleven exchanges, including Hashkey's, are currently licensed to operate in Hong Kong. "Hong Kong has established one of Asia's most clear and proactive regulatory frameworks for digital assets," says Anna Liu, CEO of HashKey Tokenization, the group's dedicated tokenization division."
Hashkey Group began trading in Hong Kong after completing an IPO that raised HK$1.6 billion. The firm, founded in 2018, operates the city's largest Hong Kong-licensed crypto exchange, which recorded HK$1.7 trillion (US$218 billion) in trading volume through Sept. 30, 2025. The broader group offers on-chain services such as staking and tokenization and provides asset management. Revenue for H1 2025 was HK$283 million (US$36 million), a 26% year-on-year decline. Hong Kong has implemented licensing regimes for cryptocurrency exchanges and stablecoins and currently licenses eleven exchanges to operate locally, aiming to link traditional finance with digital innovation.
Read at Fortune
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