'Providing trustworthy digital asset services to a billion users globally' has been the vision of HashKey Group.
How to achieve this?
We insist on following a licensed, compliant, and regulated path, and building a fully ecological Web3 financial infrastructure.
In the first half of 2024, the Bitcoin spot ETF was approved, opening a compliant channel for traditional funds to invest in cryptocurrencies; in the second half, Trump's victory ignited a global policy bull market, with market focus gradually shifting towards innovation and competition within compliant frameworks, plunging the entire crypto market into a frenzy of continuous ATH breakthroughs.
Today, we look back on the key moments related to HashKey in 2024 together, these moments are a reflection of the rapid and volatile development of the market projected onto an industry participant. As we look back, we are pleasantly surprised to find that it is guiding us to see a door that is opening, a door leading to the 'Web3 Golden Decade.'
January: 'Financing' 'Unicorn Companies'
In January, HashKey Group completed nearly $100 million in Series A financing with a pre-investment valuation exceeding $1.2 billion, joining the ranks of 'unicorn companies.'
This represents the recognition of the regulatory pathway for the cryptocurrency market by the financial market.
April: 'HashKey Global' 'Global Expansion'
In April, HashKey Global, which was granted an F-class license by the Bermuda Monetary Authority, was allowed to provide licensed virtual asset trading services. HashKey Group officially entered the 'dual flagship era' of licensed exchanges, accelerating the construction of the world's largest licensed exchange cluster.
HashKey Global quickly became profitable within two months of launch, entering the top 10 global exchanges on CoinGecko in June, becoming one of the fastest-growing licensed exchanges globally in 2024. As of December 5, 2024, HashKey Global added 910,000 registered users, and daily trading volume soared to $250 million, maintaining a steady rank of 10th globally on CoinGecko [1].
April: 'HashKey Capital' 'Hong Kong's First Licensed Virtual Asset Spot ETF'
In April, Hong Kong officially approved the listing of six Bitcoin and Ethereum spot ETFs on the Hong Kong Stock Exchange. Among them, HashKey Capital partnered with Bosera Asset Management to launch the Bosera HashKey Bitcoin ETF (3008.HK) and the HashKey Ethereum ETF (3009.HK), innovatively introducing the world's first 'holding' redemption mechanism, opening a channel for traditional compliant funds to enter the crypto market. By July 4, 2024, the total scale of the two ETFs exceeded $110 million, firmly securing the top spot in Asia.
In the year, HashKey Capital partnered with FTSE Russell to launch three major digital asset indices, including the FTSE Digital Assets 20 Index, the FTSE Digital Infrastructure Index, and the FTSE Digital Applications Index, to meet institutional demands for the investability and regulatory integrity of this new asset class, allowing investors to understand the value changes in the digital asset market in real-time.
As a global leading institutional asset management company, HashKey Capital managed over $1 billion in funds in 2024, covering various sectors such as institutional services, infrastructure, data, AI, consumer services, and technology, and was awarded the 'Singapore SME500 Award' by the Singapore Trade and Business Association.
May: 'Compliance' 'Hong Kong Fully Licensed Unicorn'
In May, HashKey Exchange ('Hash Blockchain Limited') obtained an AMLO license under the Anti-Money Laundering Ordinance in Hong Kong, under which HashKey Exchange has already acquired the Hong Kong Securities and Futures Commission's licenses No. 1, 7, and AMLO. Members of HashKey Group have also obtained all necessary licenses from the Hong Kong Securities and Futures Commission to provide virtual asset-related services in Hong Kong according to their respective business needs, becoming a unicorn company with full licensing for virtual asset services.
Currently, HashKey Group has obtained relevant licenses to provide virtual asset services in Hong Kong, Japan, Singapore, Bermuda, and will continue to advance licensing efforts in Europe and the Middle East.
'Global Licensing' makes it possible for HashKey to serve a billion users.
June: 'HashKey Cloud' 'Asia Top 3' 'STO' 'Node Validation'
In June, as the technological cornerstone of HashKey Group, HashKey Cloud successfully entered Asia's Top 3 and the world's Top 10 node validation service providers in 2024.
So far, HashKey Cloud's node validation covers over 80 mainstream public chains, with the addition of support for 35 more public chains and protocols in 2024. The total asset management scale (AUM) of node validation exceeds 3.8 billion USDT.
In the year, HashKey Cloud launched STO infrastructure products aimed at equity token financing and fund tokenization scenarios, serving clients with token product needs. Major progress in fund tokenization and equity token financing projects is expected in the near future, which will promote the compliance process and market structure optimization of digital assets.
July: 'HashKey Exchange' 'Hong Kong's Largest*' 'Stablecoin'
In July, multiple leading brokers in Hong Kong upgraded to Class 1 licenses. In the same year, HashKey Exchange, as one of the first virtual asset exchanges in Hong Kong to serve retail users, launched the institutional-level professional comprehensive service HashKey Pro, assisting over ten brokerage firms, banks, and other technology and financial institutions such as ZhongAn Bank and Victory Securities in rapidly integrating professional and reliable virtual asset trading functions. As of now, over HKD 5 billion in transactions have been completed.
In 2024, HashKey Exchange added two tradable cryptocurrencies, AVAX and LINK, for retail investors, and provided 25 tradable cryptocurrencies for professional investors (PI users), offering investors diverse virtual asset investment options. With its significant market leadership position, HashKey Exchange's asset management scale exceeded HKD 10 billion in November, with a cumulative trading volume reaching HKD 580 billion, firmly maintaining its position as Hong Kong's largest cryptocurrency exchange [2].
HashKey Exchange is also collaborating with Yuan Coin Technology, which has entered the Hong Kong Monetary Authority's stablecoin issuer sandbox, to promote the issuance of the HKDR stablecoin pegged to the Hong Kong dollar in the future. We believe that the stablecoin market will experience exponential growth in the future, and the application of stablecoins in cross-border payment scenarios will become a major area for multiple countries to explore large-scale compliant adoption of cryptocurrencies.
With outstanding business performance, HashKey Exchange was selected as one of the top 20 in Forbes' (The World's Most Trustworthy Crypto Exchanges And Marketplaces), being the only exchange from Hong Kong on the list.
July: 'Big Golden Dog' 'Million-Level Airdrop' 'Hash Pass'
In July, HashKey Group's ecosystem token HSK launched its first round of airdrops. The explosion of Telegram and the TON ecosystem is one of the most noteworthy directions for the entire crypto industry in 2024. HashKey accurately captures market traffic, launching the first Telegram Tap-to-Earn 'Big Golden Dog' game within the on-chain wallet Hash Pass, serving as the first airdrop channel for HSK. So far, 'Big Golden Dog' has formed a community with over 10 million active users.
August: 'HashKey OTC' 'Singapore'
In August, HashKey OTC's main payment institution license was officially approved by the Monetary Authority of Singapore, providing clients with regulated Digital Payment Token (DPT) trading services. Currently, HashKey OTC's trading volume has surpassed $5 billion.
August: 'HashKey Tokenisation' 'RWA'
In August, HashKey Group announced its participation as a member of the working group for the Hong Kong Monetary Authority's Ensemble project, exploring the tokenization and trading of real-world assets (RWA) including carbon credits, green assets, and money market funds in the project sandbox, with deep involvement from HashKey Tokenisation.
As the tokenization service agency of HashKey Group, HashKey Tokenisation tokenizes quality assets to create liquidity for Web2 and Web3 projects at all stages, and provides unique assets for compliant exchanges, serving as a bridge connecting the real economy, supporting innovative technology, and aiding the construction of financial markets. With strong research capabilities, its team authored a financial book (Digital Assets: Innovation, Risk, and Regulation) which won China's highest award for financial literature, the 'Golden Sheep Award,' in 2024. In the year, HashKey Tokenisation also facilitated the establishment of the 'Open Source Alliance' to promote the application and development of open-source ideas in the field of General Artificial Intelligence (AGI).
November: 'HSK' 'Ecosystem Token'
In November, after a long period of refinement, HashKey Group launched the 'ecosystem token' HSK on several leading exchanges, including HashKey Global. HSK can be applied in various scenarios within the HashKey ecosystem, such as transaction fee discounts, exclusive token preemptive purchase rights, and node validation rewards, and serves as the native token and gas token of HashKey Chain. HSK holders will enjoy governance and decision-making rights on HashKey Chain.
Adhering to long-termism, HSK has set a four-year linear unlocking period and will always distribute to true community builders.
As the value capture mechanism of the entire HashKey Group ecosystem, as of December 27, HSK peaked at $2.56, with a maximum increase of 257.3% within 30 days [3].
The market's recognition of HSK allows us to truly see the power of the 'ecosystem.'
December: 'HashKey Chain' 'Compliance On-Chain Infrastructure'
HashKey Exchange, HashKey Global, HashKey Capital, HashKey Cloud are the fundamentals of HashKey Group, but that is still not enough. What HashKey Group needs to build is a fully interconnected on-chain and off-chain Web3 financial infrastructure, which requires an open, decentralized financial system accessible to everyone globally.
On December 18, 2024, HashKey Group launched the 'compliance-friendly' on-chain financial infrastructure L2 public chain HashKey Chain, providing global users with a faster, lower-cost full-stack on-chain Web3 solution, and offering multi-dimensional and multi-layered compliance-friendly on-chain infrastructure for the on-chain deployment of traditional financial products.
The launch of HashKey Chain also connects all HashKey ecosystems, forming a powerful, mutually beneficial, and scalable cooperative system.
2024: 'Everything is Just Right' 2025: Entering the 'Web3 Golden Decade'
In 2024, we see licensed exchanges, ETFs, RWA, STOs, and stablecoins driving the deep integration of on-chain and off-chain financial markets. The compliant full-ecosystem Web3 infrastructure built by HashKey Group is becoming the bridge connecting traditional finance and crypto finance through these innovative financial tools, bringing us to the threshold of the 'Web3 Golden Decade.'
In the next decade, 'providing trustworthy digital asset services to a billion users globally' will not be out of reach.
Fortunately, in 2024, 'Everything is Just Right.'
[1] As of December 5, 2024, HashKey Global ranked 10th in the global exchange rankings on CoinGecko.
[2] As of December 27, 2024, HashKey Exchange ranked 7th in the global exchange rankings on CoinGecko, making it the highest-ranked licensed virtual asset exchange in Hong Kong.
[3] As of December 27, 2024, GoinGecko data shows that HSK reached a peak of $2.56.
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