"Providing trustworthy digital asset services to one billion users globally" has always been the vision that HashKey Group adheres to.
How to achieve this vision?
Adhere to a licensed, compliant, and regulated path, and build a comprehensive Web3 financial infrastructure.
In the first half of 2024, the approval of Bitcoin spot ETF opens a compliant channel for traditional funds to invest in cryptocurrencies; in the second half, Trump's victory opens a global policy bull market, with market focus gradually shifting to innovation and competition within regulatory frameworks, and the entire cryptocurrency market enters a frenzy of continuously breaking ATH.
Today, we look back at the key moments related to HashKey in 2024, these moments are a reflection of the rapid fluctuations of the market projected onto an industry participant. When 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 "Golden Decade of Web3."
January: "Financing" "Unicorn Enterprise"
In January, HashKey Group completed nearly 100 million USD in Series A financing with a pre-money valuation exceeding 1.2 billion USD, entering the ranks of "unicorn enterprises."
This represents the financial market's recognition of the compliance track of the cryptocurrency market.
April: "HashKey Global" "Global Expansion"
In April, HashKey Global, which obtained Class F license from the Bermuda Monetary Authority, was authorized to provide licensed virtual asset trading services. HashKey Group officially entered the "dual flagship era" of licensed exchanges, accelerating the pace of building the largest licensed exchange cluster globally.
HashKey Global achieved profitability within two months of launch, entering the top 10 in CoinGecko's global exchange ranking in June, becoming one of the fastest-growing licensed exchanges globally in 2024. As of December 5, 2024, the number of new registered users of HashKey Global reached 910,000, with daily trading volume climbing to 250 million USD, maintaining its position as the 10th largest globally according to CoinGecko [1].
April: "HashKey Capital" "Hong Kong's First Virtual Asset Spot ETF"
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 collaborated with Bosera Fund to launch the Bosera HashKey Bitcoin ETF (3008.HK) and HashKey Ethereum ETF (3009.HK), innovatively introducing the world's first "holding" redemption mechanism, opening a channel for traditional compliant funds to enter the cryptocurrency market. As of July 4, 2024, the total scale of the two ETFs exceeded 110 million USD, firmly ranking first in Asia.
Within the year, HashKey Capital collaborated with FTSE Russell to release three major digital asset indices, including the FTSE Digital Assets 20 Index, FTSE Digital Asset Infrastructure Index, and FTSE Digital Asset Application Index, to meet institutional needs for the investability and regulatory integrity of this new asset class, facilitating real-time understanding of the value changes in the digital asset market for investors.
As a leading institutional-level asset management company globally, HashKey Capital managed over 1 billion USD in 2024, covering various tracks 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 an operating virtual asset trading platform (AMLO license) under the Anti-Money Laundering Ordinance in Hong Kong. Against this background, HashKey Exchange has already obtained Hong Kong Securities and Futures Commission licenses 1, 7, and AMLO license. 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, becoming a fully licensed virtual asset service unicorn.
Currently, HashKey Group has obtained relevant licenses for virtual asset services in Hong Kong, Japan, Singapore, Bermuda, and other places, and will continue to promote licensing work in Europe and the Middle East.
"Global Licensing" makes it possible for HashKey to serve one billion users.
June: "HashKey Cloud" "Asia Top 3" "STO" "Node Verification"
In June, as the technical cornerstone of HashKey Group, HashKey Cloud successfully entered the Asia Top 3 and the global Top 10 node verification service providers in 2024.
To date, HashKey Cloud's node verification covers over 80 mainstream public chains, with 35 additional public chains and protocols supported in 2024. The total asset management scale (AUM) of node verification exceeds 3.8 billion USDT.
Within the year, HashKey Cloud launched STO infrastructure products targeting equity token financing, fund tokenization, and other scenarios, serving customers with token product needs. Major progress is expected in the near future for projects such as fund tokenization and equity token financing, which will promote the compliance process of digital assets and optimize market structure.
July: "HashKey Exchange" "Hong Kong's Largest*" "Stablecoin"
In July, several leading brokerage firms in Hong Kong upgraded to license number 1. Within the year, HashKey Exchange launched the institutional-grade comprehensive service HashKey Pro as one of the first virtual asset exchanges in Hong Kong serving retail users, assisting over ten brokerage firms and banks, including ZhongAn Bank and Shengli Securities, in rapidly integrating professional and reliable virtual asset trading functions. As of now, a total of over 5 billion HKD in transactions have been completed.
In 2024, HashKey Exchange added two tradable cryptocurrencies, AVAX and LINK, for retail investors and offered 25 tradable cryptocurrencies for professional investors (PI users), providing investors with a diversified virtual asset investment choice. With its significant market leadership, HashKey Exchange's asset management scale surpassed 10 billion HKD in November, with cumulative trading volume reaching 580 billion HKD, firmly maintaining its position as Hong Kong's largest cryptocurrency exchange [2].
HashKey Exchange has also partnered with YuanCoin Technology, which 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 the stablecoin market will experience exponential growth in the future, with stablecoins becoming a major scenario for multiple countries to explore large-scale compliant adoption of cryptocurrencies in cross-border payment scenarios.
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 listed exchange in Hong Kong.
July: "Big Gold Dog" "Million-Level Airdrop" "Hash Pass"
In July, HashKey Group's ecosystem token HSK launched its first round of airdrops. The explosive growth of Telegram and the TON ecosystem is one of the most noteworthy directions in the entire cryptocurrency industry in 2024. HashKey accurately grasps market flow, launching the first Telegram Tap-to-Earn "Big Gold Dog" game within the on-chain wallet Hash Pass as the channel for the first round of HSK airdrops. So far, "Big Gold 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 customers with regulated digital payment token ("DPT") trading services. Currently, HashKey OTC's trading volume has surpassed 5 billion USD.
August: "HashKey Tokenisation" "RWA"
In August, HashKey Group announced that as one of the members of the Hong Kong Monetary Authority's Ensemble project 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 deep participation from HashKey Tokenisation.
As the tokenization service institution of HashKey Group, HashKey Tokenisation tokenizes quality assets to create liquidity for Web2 and Web3 projects at various stages, providing unique assets for compliant exchanges, serving as a bridge connecting the real economy, supporting innovative technology, and assisting the construction of financial markets. With strong research capabilities, its team authored the financial book (Digital Assets: Innovation, Risk, and Regulation), which won China's highest award for financial books, the "Golden Sheep Award" in 2024. This 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" "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 trading fee discounts, exclusive token priority purchasing rights, and node verification rewards, and serves as the native token and gas token of HashKey Chain. HSK holders will enjoy governance and decision-making rights of HashKey Chain.
Insist on long-termism, HSK has set a linear unlocking period of four years and will always adhere to distributing to real community builders.
As the value capture tool of the entire HashKey Group ecosystem, as of December 27, HSK rose to a high of 2.56 USD, with a maximum increase of 257.3% within 30 days.
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 this is still not enough. What HashKey Group needs to build is a completely 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, multi-level compliance-friendly on-chain infrastructure for the on-chain deployment of traditional financial products.
The launch of HashKey Chain will also connect all HashKey ecosystems, forming a powerful, mutually promoting and empowering system that can collaborate on a large scale.
2024: "Everything is Just Right" 2025: Entering the "Golden Decade of Web3"
In 2024, we see that licensed exchanges, ETFs, RWA, STOs, and stablecoins are 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 globally" will not be out of reach.
Fortunately, 2024, "Everything is Just Right."
[1] As of December 5, 2024, HashKey Global ranked 10th in the global exchange ranking by CoinGecko.
[2] As of December 27, 2024, HashKey Exchange ranked 7th in the global exchange ranking by CoinGecko, the highest-ranking licensed virtual asset exchange in Hong Kong.
[3] As of December 27, 2024, GoinGecko data shows that HSK rose to a high of 2.56 USD.
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