HashKey Pursues Landmark IPO as Hong Kong Takes a Large Stake in Regulated Cryptocurrency

HashKey Holdings Limited is aiming to become the first publicly listed cryptocurrency exchange in Hong Kong after filing its IPO and opening subscriptions to both local and global investors. HashKey is selling 240.57 million shares globally, with over 24 million reserved for Hong Kong investors, and the rest for international investors. Although the company has not yet turned a profit, it has shown reduced losses and a 4% increase in revenue driven by its asset management division. The IPO comes as Hong Kong increasingly positions itself as a hub for regulated digital assets, having implemented new policies in the last two years to attract licensed operators. HashKey, alongside Binance and other major crypto firms, recently pledged HK$57 million to support local relief efforts following a devastating residential fire in Hong Kong.