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Investment Firm Hashkey Sets Sights on $1B Valuation as Hong Kong Embraces Crypto

1 min
Updated by Geraint Price
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In Brief

  • Investment firm Hashkey is in early-stage discussions to raise $100-$200 million.
  • It is aiming for a $1 billion valuation.
  • Hong Kong becomes a lucrative destination for Web3 businesses as the country adopts crypto-friendly stance.
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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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Harsh Notariya
Harsh started investing in crypto during the 2021 bull market. He took the opportunity of the market crash in May to learn more about Bitcoin and blockchain technology. Since...