|

HashKey to Begin Taking Orders for $200M Hong Kong IPO Next Week: Report

💀

HashKey Holdings, certainly one of Asia’s most outstanding cryptocurrency-exchange operators, is getting ready to open its order books subsequent week for a Hong Kong preliminary public providing that goals to elevate at the least $200 million.

Key Takeaways:

  • HashKey plans to open orders subsequent week for a Hong Kong IPO focusing on at the least $200 million.
  • The alternate now operates throughout a number of international hubs and lately secured a $30 million funding at a valuation above $1 billion.
  • HashKey has cleared its Hong Kong itemizing listening to and reported HK$1.3 trillion in spot-trading quantity.

The itemizing may happen earlier than the tip of the month, although remaining particulars, together with deal measurement and timing, stay topic to change, Bloomberg reported, citing folks acquainted with the matter.

HashKey’s Ethereum-Era Roots Propel It Into Global Crypto Expansion

Founded in 2018, HashKey grew out of chairman Xiao Feng’s early involvement in Ethereum via Wanxiang Group, the place he was among the many protocol’s first company traders.

The agency has since expanded into buying and selling, enterprise investments and digital-asset administration, working throughout Hong Kong, Singapore, Bermuda, Japan, the UAE and Ireland.

Earlier this yr, Gaorong Ventures, recognized for backing Chinese tech teams similar to Meituan and PDD, invested $30 million at a valuation exceeding $1 billion, sources stated.

Despite its regional footprint, HashKey has confronted monetary pressures. The firm posted a HK$506 million ($65 million) loss within the first half of 2025, although the deficit narrowed from a yr earlier.

Revenue dropped 26% to HK$384 million, in accordance to its itemizing paperwork.

Even so, buying and selling exercise on the platform has been substantial, with HK$1.3 trillion in cumulative spot-market quantity recorded by September.

The deliberate IPO represents a big take a look at for Hong Kong’s push to cement itself as a digital-asset hub. Authorities rolled out a brand new licensing regime final yr and are getting ready further measures to encourage broader participation after crypto exercise lagged behind expectations.

The metropolis’s positioning has drawn curiosity from mainland Chinese traders, though Beijing maintains a sweeping ban on crypto buying and selling.

Last week, HashKey cleared the Hong Kong Stock Exchange’s listing listening to, shifting the operator of the town’s largest licensed crypto alternate nearer to an preliminary public providing.

The firm disclosed the result in its Post Hearing Information Pack printed on Monday, confirming that the itemizing committee of the Hong Kong Stock Exchange has accomplished its overview of HashKey’s utility.

Crypto IPOs Gain Momentum

Last month, tZero Group, a New York–primarily based blockchain infrastructure agency targeted on tokenized securities and real-world belongings, announced that it is preparing to go public in 2026.

Before that, BitGo formally filed for an initial public offering, turning into the primary devoted crypto custodian to pursue a list on a US inventory alternate.

BitGo’s IPO submitting got here amid renewed momentum for crypto-related public choices.

The digital asset area has seen a number of notable public listings in 2025. Stablecoin issuer Circle made a splash with its IPO in June, surging greater than sevenfold since going public.

Online trading platform Etoro, which provides crypto buying and selling amongst its companies, debuted in May.

In addition, Galaxy Digital, led by Mike Novogratz, moved its itemizing from the Toronto Stock Exchange to Nasdaq earlier this yr.

Gemini, the alternate based by the Winklevoss twins, filed confidentially for a U.S. IPO in June, signaling robust market confidence in crypto exchanges going public.

More lately, Figure Technology Solutions Inc., a blockchain-focused lending platform, raised $787.5 million in its initial public offering.

The publish HashKey to Begin Taking Orders for $200M Hong Kong IPO Next Week: Report appeared first on Cryptonews.

Similar Posts