HashKey Group, a leading Asian company in financial services for digital assets, has reached a significant milestone in the world of cryptocurrencies with the launch of HashKey Global, a new global cryptocurrency exchange.
This strategic move comes after the company secured a crucial license in Bermuda, promoting its ambitions for international expansion and establishing a new benchmark in the cryptocurrency exchange sector.
The launch of the HashKey Global exchange
The announcement by HashKey Global was made today on X, highlighting the company’s commitment to providing trading services compliant with cryptocurrency enthusiasts worldwide. With this launch, the HashKey Group not only expands its geographical presence, but also diversifies its offering to cater to a wider range of market participants, including qualified retail users.
HashKey Global is ready to offer trading pairs for 21 cryptocurrencies, a move that indicates the company’s intention to provide a solid platform for trading digital assets.
This initiative is particularly noteworthy because it follows the recent acquisition of a license in Bermuda, which allows the HashKey Group to offer a complete suite of digital asset trading services. These include launchpad services, futures trading, and leveraged trading, all within a regulated framework that promises security and compliance.
Livio Weng, Chief Operating Officer of HashKey Group, has expressed the company’s ambitious vision, stating: “HashKey Group aims to create one of the largest licensed exchange clusters in the world within the next 5 years, surpassing all current regulated exchanges”.
The Bermuda license testifies to HashKey Group’s relentless pursuit of global recognition, adding to the portfolio of licenses obtained in Japan, Hong Kong, and Singapore from their respective regulatory authorities.
Focus on compliance and expansion
The strategic positioning of HashKey Group is evident in its adherence to rigorous Know Your Customer (KYC) requirements, particularly for its Hong Kong trading platform. This approach underscores the company’s dedication to serving institutional clients and nearby markets, while maintaining high standards of compliance and security.
On the contrary, HashKey Global has been designed to meet the needs of global retail customers, with specific exclusions for users from regions where cryptocurrency trading is subject to restrictions, such as mainland China, Hong Kong, the United States, and other jurisdictions. This limitation highlights HashKey’s adaptability and commitment to providing trading platforms that are accessible within regulatory frameworks.
The trajectory of HashKey Group is further accentuated by the success of the fundraising that took place in January, with a Series A funding round that raised almost 100 million dollars, valuing the company at over 1.2 billion dollars before the investment.
With the forecast of another round of funding later this year, HashKey is actively engaging with potential investors to fuel its ambitions for global expansion. Livio Weng’s comments to the Hong Kong Economic Journal reflect an optimistic outlook: the company aims to achieve profitability within the next year, thanks to significant investments in its global operations.
The regulatory achievements of the HashKey Group also extend to HashKey Exchange in Hong Kong, which was one of the first cryptocurrency exchanges to obtain a license under the new licensing regime, allowing the offering of retail services.
Furthermore, HashKey OTC, the over-the-counter trading division, has received in-principle approval from the Monetary Authority of Singapore for a major payment institution license, laying the foundation for regulated digital payment token services in Singapore.
Conclusion
The launch of HashKey Global by HashKey Group represents a crucial moment in the cryptocurrency exchange landscape. By obtaining the Bermuda license and targeting a global clientele, HashKey Group is not only expanding its operational footprint, but also strengthening its commitment to regulatory compliance and market innovation.
As the company continues on its journey to become a leader in licensed exchange services, the cryptocurrency sector is eagerly awaiting the impact of HashKey Global’s offerings on the digital asset trading ecosystem.
