🌎 HashKey Secures $30 Million From Gaorong Ventures

HashKey Group Receives $30 Million Investment from Gaorong Ventures

HashKey Group, the operator of Hong Kong’s top crypto exchange, has secured a $30 million investment from Beijing-based venture capital firm Gaorong Ventures, valuing the company at $1.5 billion.

This investment marks a rare move by a Chinese firm into the crypto space, according to people familiar with the matter. Gaorong Ventures, which has previously backed Chinese internet giants like Meituan and PDD Holdings, invested in HashKey at a pre-money valuation of over $1 billion.

A HashKey spokesperson confirmed that Gaorong’s $30 million investment puts the post-money valuation at close to $1.5 billion. This valuation figure has remained mostly unchanged since the company reached unicorn status in 2024 after raising $100 million.

Regulatory Approval and Expansion Plans

The funding comes just a week after HashKey Capital, the investment arm of HashKey Group, received approval from Hong Kong’s Securities and Futures Commission to offer discretionary account management for cryptocurrencies. This approval enables HashKey Capital to manage investment products like spot crypto, derivatives, and over-the-counter trades for wealthy clients.

Founded in 2018, HashKey Group is a Hong Kong-based crypto company offering a range of services, including:

Exchange trading
Custody
Brokerage
Venture capital
Asset management
Node validation

HashKey Group is licensed by several financial regulators, including the British Financial Conduct Authority, and also holds licenses in Hong Kong, Singapore, Japan, and Dubai.