Crypto Platform HashKey Plans Hong Kong IPO This Year: Report

HashKey Group has filed for an initial public offering (IPO) in Hong Kong, aiming to list “as soon as this year,” unnamed sources told Bloomberg . The firm runs Hong Kong’s largest licensed crypto exchange, HashKey Exchange. The company is aiming to raise as much as $500 million, the report added. The sources disclosed that HashKey is still negotiating details, including valuation and the listing schedule, which are subject to adjustment. The move aligns with Hong Kong’s growing digital asset regulatory efforts and friendly stance towards the asset class. Besides, Hong Kong officially launched its licensing regime for stablecoin issuers in August. Last month, HashKey announced plans to launch Asia’s largest multi-currency digital asset treasury (DAT) ecosystem fund . It unveiled plans to raise more than $500 million in its first phase. Further, the company has quickly increased its global presence, securing conditional approval from Dubai’s VARA to operate in the Middle East, followed by regulatory greenlights in Bermuda and Ireland . Hong Kong Poised to Be Among Top Global IPO Markets – Here’s Why KPMG has recently predicted that the city will top global IPO rankings, as it counted almost 300 active IPO filings as of 30 September – the highest in its history. Last month, Digital Currency Group (DCG) revealed that it is mulling a Hong Kong IPO, targeting approximately $500 million. The flurry of IPOs represents a strategic bet on institutional crypto adoption, leveraging Hong Kong’s regulatory innovation and the 2025 token rally. “IPOs in emerging industries like AI and crypto continue to capture headlines, reflecting investors’ growing interest in forward-looking investments,” said Paul Lau, partner, head of capital markets and professional practice, KPMG China. HSK Token Surges 13% Following IPO Report Following the Bloomberg report on Friday, HashKey’s native token, HSK, surged 13% to $0.46, after falling to $0.41. The IPO report fueled speculation about growth and token utility. A successful IPO might increase HSK’s visibility among traditional investors and expand its use cases. The post Crypto Platform HashKey Plans Hong Kong IPO This Year: Report appeared first on Cryptonews .