Hong Kong tightens crypto grip as HashKey clears path to IPO
The post Hong Kong tightens crypto grip as HashKey clears path to IPO appeared on BitcoinEthereumNews.com.
HashKey moves closer to IPO after clearing Hong Kong listing hearing, boosting regulated crypto ambitions. HashKey leads Hong Kong’s licensed crypto trade but remains unprofitable despite a large client asset base. Firm expands globally with approvals in Dubai, Bermuda, and Ireland ahead of planned public listing. Hong Kong’s push to build a tightly regulated digital asset market has taken another step as HashKey Holdings secures approval to move forward with an initial public offering. The operator of the city’s largest licensed crypto exchange confirmed in a Dec. 1 disclosure that it cleared the Hong Kong Stock Exchange’s listing hearing, a milestone that positions the company to advance its plans. The development arrives as Hong Kong continues to present itself as a controlled and legally defined alternative to the crypto restrictions on the mainland, while seeking to attract institutional and retail participation through licensed platforms. IPO progress strengthens regulated market ambitions HashKey has not revealed the size or timing of the IPO, but earlier reports in October indicated that the company had explored raising to $500 million. The filing shows that JPMorgan Chase, Guotai Haitong Securities, and Guotai Junan International are acting as joint sponsors, reinforcing the city’s intention to anchor crypto activity within traditional financial structures. Local media reported that funds raised through the offering would be directed toward technology upgrades, wider product development, stronger operational capacity, and the expansion of services into new markets. HashKey is also prioritising the improvement of its risk management systems as part of a broader plan for long-term growth. Licensing gives HashKey a strategic foothold HashKey operates under the Securities and Futures Commission’s regulatory framework and was among the first digital asset companies approved to serve both institutional and retail investors under Hong Kong’s updated licensing regime. The company holds a Type 1 licence,…
