HashKey Group, the operator of a licensed crypto exchange based in Hong Kong, has successfully closed its fundraising round, raising nearly $100 million.
The company, which won a license from Hong Kong’s security regulator to offer retail crypto trading, did not disclose the identities of the investors in the round.
This successful fundraising effort has propelled HashKey Group to unicorn status, with a post-raise valuation of $1.2 billion. The term “unicorn” is used to describe private companies with a valuation of $1 billion or more.
HashKey Group emphasized that the funds raised will be instrumental in promoting compliant and innovative global growth. The company’s achievement comes at a time when the crypto fundraising landscape experienced a downturn, reaching a three-year low of $2.1 billion in the third quarter of 2023 across 297 deals. This downturn was attributed to various factors, including the collapse of FTX and a shift in focus towards early-stage and infrastructure projects within the crypto industry.
