HashKey Clears HKEX Hearing, Advances Toward Hong Kong IPO
HashKey Holdings, Hong Kong's first licensed cryptocurrency exchange, has successfully navigated its Hong Kong Stock Exchange listing hearing. The milestone positions the firm as the region's largest virtual asset platform, with JPMorgan Chase, Guotai Haitong Securities, and Guotai Junan International serving as joint sponsors.
The exchange reported $81.9 billion in 2024 trading volume alongside $92.6 million revenue, despite $99.3 million in losses. Hong Kong's evolving regulatory landscape, including its new Stablecoins Bill, creates favorable conditions for institutional crypto adoption and exchange expansion.
HashKey's progress reflects growing institutional confidence in digital assets amid clearer compliance frameworks. The exchange's performance demonstrates the sector's maturation despite crypto market volatility and liquidity challenges.