The company wants to take advantage of Hong Kong’s renewed potential as a crypto hub, as the city works on creating clear rules for digital assets.
According to a report from Bloomberg on Friday, HashKey Group, a company that provides financial services for digital assets, is planning to raise funds with a valuation of $1 billion.
According to sources familiar with the matter, HashKey, a company based in Asia, is having early discussions to raise an amount ranging from $100 million to $200 million.
The company wants to take advantage of Hong Kong’s recent resurgence as a potential hub for cryptocurrencies. The city is actively working to establish clear rules and regulations for digital assets, and the firm sees this as an opportunity to benefit from the favorable environment.
Hong Kong is actively seeking to bring cryptocurrency companies to its territory as a way to boost investment and capital. After experiencing economic difficulties due to COVID-related restrictions, the city aims to attract crypto firms as a means of revitalizing its economy.
HashKey was among the earliest companies to receive approval from Hong Kong’s Securities and Futures Commission (SFC) to operate a virtual asset trading platform. They recently announced their intention to launch a regulated exchange in the second quarter of this year.
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