Hashkey becomes a “unicorn”—raises $100 million | CoinDesk JAPAN

HashKey Group, which operates a crypto asset (virtual currency) exchange in Hong Kong, announced on January 16 that it had “almost achieved” funding of $100 million (approximately 14.5 billion yen, equivalent to 145 yen to the dollar). ” announced. The names of the VCs that invested are not disclosed. After raising funds, the company was valued at $1.2 billion, making it a “unicorn.”

The company announced the funding in August last year, and shortly after received a retail license for crypto-asset trading from Hong Kong regulators.

BIG NEWS!

We are proud to announce the completion of a Series A financing round of nearly US $100 million at a pre-money valuation above US $1.2 billion.

The newly raised capital will be used to :
Solidify HashKey’s #Web3 ecosystem
Accelerate the product… pic.twitter.com/EgpWA04SRN

— HashKey Group (@HashKeyGroup) January 16, 2024

In October, U.S. CoinDesk reported that amid the industry slump due to the bankruptcy of FTX, crypto asset-related companies raised 297 funds for $2.1 billion in the third quarter of 2023 (July-September period), compared to the fourth in 2020. It was the lowest level in three years since the October-December quarter, and investors have shifted to early-stage and infrastructure projects.

However, given the significant rise in Bitcoin (BTC) and other major crypto assets in the fourth quarter of 2023 and the approval of Bitcoin ETFs, many VC funds are taking a stance from the beginning of 2024. change and take an optimistic view.

｜Translation/Editing: CoinDesk JAPAN Editorial Department
｜Image: Dr. Xiao Feng, Chairman and CEO of HashKey Group (HashKey)