At the just concluded 10th Blockchain Global Summit, Dr. Xiao Feng, Chairman and CEO of HashKey Group, brought forward-looking insights. He believes that Web3 will enter the "1995 moment" of the Internet starting in 2024. The so-called "1995 moment" of the Internet is a watershed in the development of the Internet industry. Before 1995, it was the stage of Internet infrastructure construction, and after 1995, the application represented by large Internet platforms ushered in a big explosion. The same is true for the blockchain industry. Before 2024, Web3 is in the construction stage of infrastructure such as blockchain technology, distributed ledgers, token economics, and smart contracts. The next stage is the stage of large-scale application. The next ten years will be a more exciting and explosive decade for blockchain and Web3.
In the financial field, in the next ten years, Web3 will build a new financial market system that is different from the current one. In the future, there will be two financial market systems coexisting in the world, one is the traditional financial market system based on bank accounts, and the other is the crypto financial market system based on crypto accounts and tokens.
In Dr. Xiao Fengâs closing speech (Redefining Tokens in the AGI Era), he further elaborated on the redefinition of Tokens in the era of artificial intelligence and its impact on the future economy. With the rapid development of technology, Tokens have transformed from simple trading tools to an important link between the real economy and the digital world. He attributed the transformation of Tokens to the "three cognitive revolutions" in human history, emphasized the key role of language, writing and computer code in the development of human society, and predicted that Tokens will become the core of the future digital economy. Tokens are not only the product of technological progress, but also a key tool to promote global economic integration and digital transformation.
Dr. Xiao Feng's speech not only depicted the upcoming golden decade of Web3, but also predicted the coexistence of two financial market systems in the future: traditional finance and token-based crypto finance. Such changes have provided unprecedented opportunities for HashKey Group, which began to lay out in the crypto asset industry as early as 6 years ago. Since its establishment in 2018, under the leadership of Dr. Xiao Feng, HashKey Group has entered the game to practice its love and belief in Web3.
At present, HashKey Group has built an ecological map covering Hong Kong, Singapore, Japan, Bermuda and other places and the entire industry chain within a regulatory framework with high compliance standards. Especially in Hong Kong, members of HashKey Group have obtained all the required licenses from the Hong Kong Securities Regulatory Commission to provide virtual asset-related services in Hong Kong according to their respective business needs, becoming a Hong Kong virtual asset full-license unicorn, and can provide comprehensive virtual asset trading, investment consulting, virtual asset fund products and other services to institutional clients, professional investors and retail users.
HashKey Group firmly believes that Web3's move towards compliance is a historical necessity. The road to compliance not only requires huge economic investment, but also very large opportunity costs and temptations. However, HashKey Group has persisted all the way to now, which is enough to prove the company's determination and perseverance in building the industry's Web3 compliance infrastructure. After 6 years of persistence, HashKey Group has also delivered a good answer to the compliance track.
Among them, HashKey Exchange, as the largest licensed virtual asset exchange in Hong Kong[1], is currently among the top 10 exchanges in the world. According to data from CoinGecko on October 17, HashKey Exchange ranks in the top 8, with total transaction volume exceeding HK$538 billion and user assets exceeding HK$5 billion. Omnibus brokerage services have grown significantly, with a quarterly growth rate of 1272% and a trading volume of HK$3.3 billion. The contract holdings of another licensed exchange, HashKey Global, reached 32 million US dollars, surpassing Coinbase International in the global contract ranking[2].
In addition to the world's leading virtual asset trading services, HashKey Group has begun to lay out the primary market, that is, the issuance market, since last year. Its tokenization service agency HashKey Tokenisation has tokenized high-quality assets through cooperation with HashKey Cloud, a leading provider of Web3 infrastructure, to create liquidity for Web2 and Web3 projects at all stages, and to provide unique assets for compliant exchanges, successfully becoming a bridge connecting the real economy, supporting innovative technology, and helping the construction of financial markets. Currently, HashKey Tokenisation has participated in the Ensemble project of the Hong Kong Monetary Authority to help promote the development of Hong Kong's tokenization market.
As the technical support of HashKey Group, HashKey Cloud is committed to providing professional, stable and secure blockchain services to global customers. Its node verification services cover more than 80 mainstream public chains, and its asset management scale reaches 1.2 million (calculated in Ethereum). In the face of the upcoming application explosion, HashKey Cloud is also laying out new product lines including Restaking, Bitcoin node verification, Ethereum Layer2 and STO Infra.
In addition, HashKey Capital, one of HashKey's most influential businesses, has also "made moves" many times this year, investing in more than 45 new projects, including Babylon, Berachain & Particle Network and other leading projects, further consolidating its leading position in the blockchain and digital assets field. HashKey Capital also won the Singapore SME500 Award in recognition of its operational excellence and innovation in the field of digital assets. HashKey OTC has been officially approved by the Monetary Authority of Singapore as a major payment institution license, providing customers with regulated digital payment token (DPT) trading services. As a pioneer in financial innovation, HashKey has also successfully launched the Boshi HashKey Bitcoin and Ethereum spot ETFs on the Hong Kong Stock Exchange, and innovatively introduced the world's first "holding currency" subscription and redemption mechanism.
Starting this year, HashKey Group has accurately grasped industry opportunities and rapidly expanded its Web3 native business. HashKey ecological platform currency HSK has reached cooperation with more than 60 top communities, and a total of airdrops have been issued to 7.2 million active high-quality community users in the first phase. The official airdrop channel, the Tap-to-Earn mini-game "Big Golden Dog" has been launched so far and has 7.5 million game users.
It is worth noting that HashKey Group disclosed that it will start the public beta of its L2 public chain HashKey Chain in the fourth quarter, and the main network is expected to be launched within the year. HashKey Chain will become the most important carrier for integrating the value of the entire HashKey ecosystem. By creating a compliant, friendly and innovative environment, it will provide a reliable on-chain ecosystem for traditional financial institutions and high-quality project parties, and provide full-ecological Web3 services for global users. At present, HashKey Chain plans to build a financial infrastructure that connects Web2 and Web3 and a full-stack Web3 solution based on BTCFi, Payfi, Stablecoin, RWA, DePIN and other tracks. This not only reflects the unique competitive advantages of HashKey Chain, but also highlights the mission and determination of HashKey Group as an industry pioneer.
Facing the explosive growth in the next decade, with the establishment of a new financial market system and the renewal of the traditional financial system, HashKey Group will continue to use blockchain technology to build an open encrypted financial infrastructure, continuously promote the integration and progress of Web3 and traditional financial markets, and provide reliable virtual asset services to one billion users around the world, making virtual assets within reach.
[1] As of October 17, according to the latest data from Coingecko, HashKey Exchange ranks among the top 8 global exchanges and is the highest-ranked licensed virtual asset exchange in Hong Kong.
[2] Data source: CoinGecko and CoinMarketCap rankings on September 6
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