Article source: HashKey Group

"Providing Trustworthy Digital Asset Services to One Billion Users Worldwide" has always been HashKey Group's vision.

How to achieve this?

Insist on following a licensed, compliant, and regulated path, and building a full-ecosystem Web3 financial infrastructure.

In the first half of 2024, the Bitcoin spot ETF was approved, opening up a compliant channel for traditional funds to invest in cryptocurrencies; in the second half, Trump's victory opened a global policy bull market, with market focus gradually shifting to innovation and competition within a compliant framework, causing the entire crypto market to indulge in a frenzy of breaking ATHs.

Today, we reflect on the key moments related to HashKey in 2024, moments that reflect the rapid oscillation and development of the market projected onto an industry participant. Upon reflection, we are pleasantly surprised to find that it guides us to see a door that is opening, a door leading to the "Golden Decade of Web3."

January: "Financing" "Unicorn Enterprises"

In January, HashKey Group completed nearly $100 million in Series A financing with a pre-investment valuation exceeding $1.2 billion, entering the ranks of "unicorn enterprises."

This represents the recognition of the financial market for the compliance track of the cryptocurrency market.

April: "HashKey Global" "Global Expansion"

In April, HashKey Global launched with an F-class license granted by the Bermuda Monetary Authority, allowing international licensed trading services. HashKey Group officially stepped into the "dual flagship era" of licensed exchanges, accelerating the construction of the world's largest licensed exchange cluster.

HashKey Global achieved profitability rapidly within two months, ranking in the Top 10 of CoinGecko's global exchange rankings in June, becoming one of the fastest-growing licensed exchanges globally in 2024. As of December 5, HashKey Global has reached 910,000 new registered users, with daily trading volume climbing to $250 million, maintaining a stable position at the 10th place globally on CoinGecko.

April: "HashKey Capital" "Hong Kong's First Batch of Virtual Asset Spot ETFs"

In April, Hong Kong officially approved the listing of 6 Bitcoin and Ethereum spot ETFs on the Hong Kong Stock Exchange. Among them, HashKey Capital, in collaboration with Bosera Fund, launched the Bosera HashKey Bitcoin ETF (3008.HK) and HashKey Ethereum ETF (3009.HK), innovatively introducing the world's first "holding" subscription and 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 ranking first in Asia.

In the year, HashKey Capital collaborated with FTSE Russell to launch three major digital asset indices, including the FTSE Digital Assets 20 Index, FTSE Digital Assets Infrastructure Index, and FTSE Digital Assets Application Index, to meet institutional needs for investability and regulatory integrity in this new asset class, allowing investors to understand real-time value changes in the digital asset market.

As a leading institutional asset management company globally, HashKey Capital managed over $1 billion in funds in 2024, covering various sectors including 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" "Fully Licensed Unicorn in Hong Kong"

In May, HashKey Exchange ("Hash Blockchain Limited") obtained a license under the (Anti-Money Laundering Ordinance) to operate a virtual asset trading platform in Hong Kong. Against this backdrop, HashKey Exchange has also obtained the Hong Kong Securities and Futures Commission's licenses 1, 7, and AMLO, and members of HashKey Group have acquired all the necessary licenses from the Hong Kong Securities and Futures Commission to provide virtual asset-related services in Hong Kong, becoming a fully licensed virtual asset service unicorn.

Currently, HashKey Group has obtained relevant licenses for virtual asset services in regions such as Hong Kong, Japan, Singapore, and Bermuda, and will continue to advance its licensing work in Europe and the Middle East.

"Global Licensing" makes it possible for HashKey to serve 1 billion users.

June: "HashKey Cloud" "Asia Top 3" "STO" "Node Validation"

In June, as the technological cornerstone of HashKey Group, HashKey Cloud successfully ranked among the Top 3 in Asia and Top 10 globally for node validation service providers in 2024.

So far, HashKey Cloud node validation covers more than 80 mainstream public chains, with support for an additional 35 public chains and protocols in 2024. The total assets under management (AUM) for node validation exceed 3.8 billion USDT.

In the year, HashKey Cloud launched STO infrastructure products for scenarios such as equity token financing and fund tokenization, serving clients with token product needs. Significant progress is expected in fund tokenization and equity token financing projects in the near future, which will drive the compliance process and market structure optimization of digital assets.

July: "HashKey Exchange" "Hong Kong's Largest*" "Stablecoin"

In July, several leading brokers in Hong Kong upgraded to License 1. During the year, HashKey Exchange, as one of the first virtual asset exchanges in Hong Kong to face retail users, launched the institutional-level professional comprehensive service HashKey Pro, helping over ten brokers and financial institutions, including ZhongAn Bank and Victory Securities, rapidly integrate professional and reliable virtual asset trading functions, with cumulative transactions exceeding HKD 5 billion so far.

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 a diversified selection of virtual asset investment options. With its significant market leadership, HashKey Exchange's assets under management exceeded HKD 10 billion in November, with cumulative trading volume reaching HKD 580 billion, firmly maintaining its position as Hong Kong's largest cryptocurrency exchange.

HashKey Exchange also partnered with Yuan Coin Technology, which entered the Hong Kong Monetary Authority's stablecoin issuer sandbox, to promote the future issuance of the Hong Kong Dollar pegged stablecoin HKDR. We believe 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 listed from Hong Kong.

July: "Big Golden Dog" "Million-Level Airdrop" "Hash Pass"

In July, HashKey Group's ecological 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 cryptocurrency industry in 2024. HashKey accurately captures market flow and launches 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 of 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 that as a member of the Hong Kong Monetary Authority's Ensemble project architecture working group, it will explore the tokenization and trading of real-world assets (RWA), including carbon credits, green assets, and money market funds in the project sandbox, with HashKey Tokenisation deeply involved.

As the tokenization service institution of HashKey Group, HashKey Tokenisation tokenizes high-quality assets to create liquidity for Web2 and Web3 projects at various stages and provides unique assets for compliant exchanges, serving as a bridge connecting the real economy, supporting innovative technology, and aiding financial market construction. With strong research capabilities, the team's financial book (Digital Assets: Innovation, Risks, and Regulations) won the highest award in Chinese financial literature, the "Golden Goat Award," in 2024. During the year, HashKey Tokenisation also promoted the establishment of the "Open Source Alliance" to facilitate the application and development of open-source ideas in the field of General Artificial Intelligence (AGI).

November: "HSK" "Ecological Token"

In November, after a long period of refinement, HashKey Group launched the "Ecological Token" HSK on multiple leading exchanges, including HashKey Global. HSK can be applied in a wide range of scenarios within the HashKey ecosystem, such as trading fee discounts, exclusive token priority purchasing 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 for HashKey Chain.

Adhering to long-termism, HSK has set a linear unlocking period of four years and will always insist on distributing to true community co-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% over 30 days.

The market's recognition of HSK has truly shown us the power of the "ecosystem."

December: "HashKey Chain" "Compliance On-Chain Infrastructure"

HashKey Exchange, HashKey Global, HashKey Capital, and 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 multidimensional and multi-level compliant-friendly on-chain infrastructure for the deployment of traditional financial products.

The launch of HashKey Chain will also connect all HashKey ecosystems, forming a powerful, mutually reinforcing, and scalable collaborative system.

2024: "Everything is Just Right" 2025: Entering the "Golden Decade of Web3"

In 2024, we see licensed exchanges, ETFs, RWAs, 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 a bridge connecting traditional finance and crypto finance through these innovative financial tools, bringing us to the doorstep of the "Golden Decade of Web3."

In the next decade, "Providing Trustworthy Digital Asset Services to One Billion Users Worldwide" will not be out of reach.

Fortunately, in 2024, "Everything is Just Right."

[1] As of December 5, 2024, HashKey Global ranks 10th in CoinGecko's global exchange rankings.

[2] As of December 27, 2024, HashKey Exchange ranks 7th in CoinGecko's global exchange rankings, being the highest-ranked licensed virtual asset exchange in Hong Kong.

[3] As of December 27, 2024, GoinGecko data shows that HSK peaked at $2.56.

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