HashKey Holdings, operator of Hong Kong’s largest licensed digital asset exchange, has received approval from the Hong Kong Stock Exchange to advance its planned initial public offering.
The company disclosed on December 1 that it had cleared the listing hearing, a major step toward a public debut. While HashKey has not confirmed the fundraising amount, earlier reports indicated that the firm may seek up to $500 million. JPMorgan Chase, Guotai Haitong Securities and Guotai Junan International are listed as joint sponsors.
HashKey plans to allocate the capital toward upgrading its technology stack, strengthening infrastructure, and driving product innovation. Additional priorities include improving operational efficiency, enhancing risk management systems and expanding into new markets.
Operating under Hong Kong’s revamped regulatory framework, HashKey holds multiple licenses, including Type 1 and Type 7 permissions, enabling it to handle tokenized securities and run automated trading platforms.
It is one of eleven licensed virtual asset trading platforms open to retail users, positioning the city as a tightly regulated but crypto-friendly hub.
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