Crypto investment firm Hashkey is looking to achieve unicorn status as Hong Kong adopts a more crypto-friendly stance.
As Hong Kong plans to become a regional crypto hub, businesses find it a lucrative destination for their crypto firms.
Hashkey Looking to Raise $200 million
According to Bloomberg, Hashkey is in early-stage discussions to raise $100-$200 million in funding at a $1 billion valuation. However, the investment firm has not finalized the specifics, such as the terms and size of the deal.
The development comes as Hong Kong plans to welcome crypto companies under a new licensing rule starting next month. Regulators have even asked the banks to support virtual asset service providers.
And Hong Kong’s financial chief, Paul Chan, has said: “Now is the best time to invest in Web3.”
Hence, such an environment ideally makes it perfect for businesses to expand to Hong Kong. And investment firms such as Hashkey can aim for higher valuations based on future potential.
In late March, another Hong Kong-based investment firm, ProDigital Futures, revealed its plans to invest $100 million in crypto companies. It was so far raised $30 million in funding commitments.
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