HashKey
- Company typePublic
- Founded2018
- HeadquartersTokyo, Japan
- Headcount101–250
- GTM typeB2B
- OfferingServices
HashKey firmographics
Firmographics- Name
- HashKey
- Legal name
- HashKey Digital Asset Group Limited
- Website
- https://group.hashkey.com
- Company type
- Public
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
HashKey industry classification
Industry- Product category
- Digital Asset Financial Services
- NAICS
- Securities and Commodity Exchanges (5232), Trust, Fiduciary, and Custody Activities (523991), Open-End Investment Funds (525910)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Tokenization Platforms (RWA, Securities, Funds) (FSAGAMAA)
- akta.pro secondary industries
- Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls) (FSAPAIAE), Tokenized Securities & Capital Markets Infrastructure (equities, bonds, funds, ATS/MTF connectivity) (FSAPAIAD), Active Crypto Asset Managers (Discretionary) (FSADAHAA)
Keywords
Where HashKey is headquartered
LocationHeadquarters
- HQ city
- Tokyo
- HQ country
- Japan
- HQ region
- Asia
Offices4 records
Markets served
HashKey business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Others
Revenue model
- Transaction Facilitation: Revenue from trading fees on HashKey Exchange, Hong Kong's largest licensed virtual asset trading platform. The exchange facilitates spot trading, OTC transactions, and professional trading services.
- Asset Management: Revenue from managing digital assets and investment products for institutional clients. HashKey Capital manages over US$1 billion in client assets with investments across infrastructure, tools, and applications.
- Institutional Bitcoin Lending: Revenue from providing institutional-grade Bitcoin lending services to enable clients to generate yield from digital asset reserves.
- Tokenization Services: Revenue from advising and facilitating tokenization of various asset types, including token economics design, legal structuring, and execution services for asset issuers.
- On-Chain Services: Revenue from blockchain infrastructure services including node validation (80+ mainstream public chains), Ethereum staking support (26,000+ validator nodes), and HashKey Chain services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Institutional exchange services with compliance-first approach |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
HashKey product offering
Product offeringCore offering
HashKey Group is a publicly listed end-to-end digital asset financial services group (HKEX: 3887) operating licensed virtual asset exchanges, institutional trading platforms, asset management, blockchain node validation, on-chain financial infrastructure, and asset tokenization services. The company serves institutional and professional investors across Hong Kong, Singapore, Japan, Bermuda, and Dubai under multiple regulatory licenses (SFC, MAS, FSA, VARA, Bermuda F-Class), and holds over 75% market share of Hong Kong's licensed digital asset exchanges.
Product overview
HashKey is an established comprehensive digital asset company in Asia with global footprint, providing end-to-end financial infrastructure, technology, and investment management to create a digital assets ecosystem. The company operates a platform-plus-services model centered on three core pillars: transaction facilitation (HashKey Exchange, HashKey Global, HashKey Pro, HashKey Brokerage, HashKey OTC), on-chain services (HashKey Chain, HashKey Cloud), and asset management (HashKey Capital). Supporting these core operations are specialized offerings including HashKey Tokenisation for RWA advisory and execution, HashKey CaaS for institutional crypto-as-a-service solutions, and the HSK ecosystem token. The company serves institutional and professional investors across multiple regulated markets including Hong Kong, Singapore, Japan, Bermuda, and Dubai (MENA), with HashKey Exchange being Hong Kong's largest licensed platform and HashKey Capital being Asia's largest digital asset manager by AUM.
Differentiator
Problem solved
Functional benefit
Brands
- HashKey Exchange: Hong Kong's largest licensed virtual asset trading platform operated by Hash Blockchain Limited, fully regulated by SFC holding Type 1, Type 7, and VATP licenses. Ranked 16th on CoinGecko as of February 2026.
- HashKey Cloud
- HashKey Tokenisation
- HashKey Chain
- HashKey Pro
- HashKey CaaS (Crypto-as-a-Service)
Products and services
- HashKey Exchange Hong Kong's largest licensed virtual asset trading platform offering spot trading, custody, and professional investor services. Operated by Hash Blockchain Limited and fully regulated by the SFC with Type 1, Type 7, and VATP licenses. Ranked #16 on CoinGecko as the highest-ranked licensed exchange in Hong Kong.
- HashKey Global International licensed virtual asset exchange serving global markets outside restricted jurisdictions.
- HashKey Capital Global asset management company investing in blockchain technology and virtual assets. Manages over $1 billion in client assets, has made over 500 investments across infrastructure, tools, and applications, and is the largest digital asset manager by AUM in Asia.
- HashKey Pro Institutional-grade platform providing digital asset trading, custody, and brokerage services with order book trading, OTC request-for-quote trading, FIX protocol support, omnibus account structures, and API connectivity for brokers, banks, and asset managers. Licensed by Dubai's VARA.
- HashKey Cloud Global blockchain node validation services provider covering 80+ mainstream public chain staking node services with over 26,000 validator nodes running stably and zero asset loss record since 2020.
- HashKey Chain Compliance-friendly institutional-grade public blockchain serving as next-generation financial infrastructure for on-chain finance, stablecoins, RWA tokenization, and Institutional DeFi. Operates as an Ethereum Layer-2 with HSK as native token.
- HashKey Tokenisation Tokenisation advisory and execution arm specializing in advising and facilitating tokenisation of various asset types with focus on Web3 native assets, offering end-to-end services from token economics design and legal structuring to actual execution.
- HashKey Brokerage Brokerage services providing fast, compliant, and secure large-value transaction services for professional and institutional investors.
- HashKey OTC Over-the-counter trading services providing customized virtual asset transaction execution services for professional and institutional investors.
- HashKey Japan Japan-based operations providing virtual asset expertise and connecting institutional business with opportunities in the Japanese market, including institutional-grade Bitcoin lending services.
- HashKey MENA Dubai-based virtual asset exchange licensed by VARA serving the Middle East and North Africa region, offering institutional-grade digital asset infrastructure and stablecoin-based business payment corridors.
- HashKey CaaS (Crypto-as-a-Service) Crypto-as-a-Service solution providing banks, asset managers, and fintechs with one-stop end-to-end tokenization services covering asset tokenization, DAT/ETF staking, on-chain trading and payments, and security and risk control.
- ETH Staking Service Regulated ETH staking service enabling clients to participate in Ethereum validation through a licensed Hong Kong platform using dedicated validator node model with one-to-one asset mapping and minimum 32 ETH requirement.
- Institutional Bitcoin Lending Institutional-grade Bitcoin lending services enabling corporate treasuries and clients to generate yield from digital asset reserves, as demonstrated by service to Tokyo-listed ANAP Holdings Inc. with approximately 1,417 BTC.
Quantifiable outcome
- Over 75% market share of Hong Kong licensed exchange platforms
- +3 more outcomes
Companies that use HashKey
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
HashKey technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability6 records
Feature4 records
HashKey partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered major, core and minor.
- Aptos Foundation and DayamajorHashKey MENA pilots stablecoin-based business payments between Middle East and Africa in partnership with Aptos Foundation and pan-African payments platform Daya. Initiative addresses foreign exchange friction, high transaction costs and slow settlement times, implementing stablecoins as primary settlement asset.
- ANAP Holdings Inc.coreStrategic partnership for institutional-grade Bitcoin lending services in Japan. HashKey Japan provides services to ANAP Holdings, a Tokyo-listed Bitcoin treasury company holding approximately 1,417 BTC, enabling yield generation from digital asset reserves. ANAP is one of Japan's top three Bitcoin-holding listed companies.
- BITMAINmajorHashKey Capital and BITMAIN announced cooperation in computing infrastructure and digital asset services, jointly exploring innovative applications of high-performance computing resources and fostering ecosystem development of digital economy technologies.
- Ethereum Applications Guild (EAG)minorHashKey Cloud partnered with EAG during Hong Kong Web3 Festival to provide ETH Staking support for Ethereum application ecosystem. Collaboration introduces EAG Contribution Pool DAPP enabling community participation in ETH Staking (32-2048 ETH per node) while directing rewards toward ecosystem development.
- CAEX (Vietnam Prosperity Crypto Asset Exchange)coreHashKey Capital invested alongside OKX Ventures in Vietnam's CAEX exchange to support government-backed cryptocurrency pilot program. Investment helps CAEX meet Vietnam's minimum capital requirement of $380 million for licensing under the five-year pilot program.
- Oceanus Group LimitedcoreStrategic partnership to develop regulated stablecoin settlement infrastructure for global trade finance, addressing the $2.5 trillion trade finance gap. Partnership executed through Oceanus's technology subsidiary ODIN and HashKey Technology Services, combining AI-driven trade finance platform with HashKey's regulated settlement rails to create a first-of-its-kind 'operating system' for Asian trade corridors.
- Timeless Resources Holdings Limited and Silver Times LimitedcoreHashKey Chain supported on-chain issuance of Hong Kong's first regulated silver-backed RWA tokens. Project enables professional investors to own fractional interests in physical silver with each token backed one-to-one by one troy ounce of .9999 fine silver stored in secured vaults.
- Eddid Securities and Futures LimitedcoreEddid Securities acts as project coordinator and distribution partner for silver-backed RWA token issuance, providing placement capabilities and market access to professional investors. SFC Type 1 licensed corporation engaged in virtual asset trading and product distribution services.
Scale indicators7 records
Recent moves11 records
Expansion highlights7 records
HashKey competitors and assessment
Company assessmentDirect peers
- OSL: OSL is Hong Kong's other major SFC-licensed virtual asset trading platform and a direct competitor to HashKey Exchange in serving professional and institutional investors with regulated trading and custody services.
- Galaxy Digital: Galaxy Digital is a publicly listed digital asset financial services and investment management firm combining trading, asset management, staking, and blockchain infrastructure—closely analogous to HashKey's multi-pillar business model.
- OKX: OKX is a global licensed digital asset exchange offering spot/derivatives trading, Web3 wallet, and institutional services; OKX Ventures also co-invested with HashKey Capital in Vietnam's CAEX, highlighting strategic overlap in Asia institutional crypto.
- Circle: Circle issues USDC stablecoin and provides institutional digital asset infrastructure including custody and on-chain settlement—comparable to HashKey's tokenization, custody, and stablecoin settlement corridor initiatives (Oceanus, MENA).
- Grayscale Investments: Grayscale is the largest digital asset asset manager by AUM; comparable to HashKey Capital's digital asset investment management business with $1B+ AUM, focused on institutional exposure vehicles.
Broad incumbents
- Coinbase: Coinbase is the largest US-regulated digital asset exchange with institutional offerings spanning trading, custody, staking, and asset management—comparable end-to-end institutional digital asset services, but at a much larger global scale.
- Binance: Binance is the world's largest digital asset exchange by trading volume; HashKey's ex-CHRO Long Yu previously led Binance HR, and while Binance operates offshore, it remains the primary competitor HashKey must differentiate against on regulated venues.
- HTX (Huobi): HTX (formerly Huobi) is a global digital asset exchange; while headquartered differently, it competes in spot trading and offers staking/asset management products overlapping with HashKey Exchange and HashKey Cloud.
- Block (formerly Square): Block provides Bitcoin-focused financial services through Cash App and institutional Bitcoin trading/custody via Bitcoin-focused products; comparable to HashKey's institutional Bitcoin lending services (e.g., ANAP partnership).
Emerging players
- Anchorage Digital: Anchorage is a US-regulated institutional digital asset custody and trading platform targeting banks and asset managers—comparable to HashKey's institutional custody and HashKey Pro offerings for institutional clients.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
HashKey social profiles
Digital presenceHashKey compliance and trust
Trust signalCompliance13 records
HashKey financial estimates
Financial estimateRevenue estimate
Valuation estimate
HashKey leadership team
Management profileNumber of profiles
Profiles15 records
HashKey subsidiaries and ownership
Company hierarchySubsidiaries11 records
HashKey funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
HashKey M&A and investment
M&A and investmentM&A
Investments13 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about HashKey
What does HashKey do?
HashKey Group is a publicly listed end-to-end digital asset financial services group (HKEX: 3887) operating licensed virtual asset exchanges, institutional trading platforms, asset management, blockchain node validation, on-chain financial infrastructure, and asset tokenization services. The company serves institutional and professional investors across Hong Kong, Singapore, Japan, Bermuda, and Dubai under multiple regulatory licenses (SFC, MAS, FSA, VARA, Bermuda F-Class), and holds over 75% market share of Hong Kong's licensed digital asset exchanges.
Is HashKey a public or private company?
HashKey is a public company. It is classified as public and is currently operating.
When was HashKey founded?
HashKey was founded in 2018. It employs 101 to 250 people.
Where is HashKey based?
HashKey is headquartered in Tokyo, Japan, in the Asia region.
How does HashKey make money?
Five revenue lines are on record. Transaction Facilitation is the primary driver. The others are asset Management, institutional Bitcoin Lending, tokenization Services and on-Chain Services.
Who are HashKey's main competitors?
Direct peers on record are OSL, Galaxy Digital, OKX, Circle and Grayscale Investments. Broad incumbents are Coinbase, Binance, HTX (Huobi) and Block (formerly Square). Anchorage Digital is listed as an emerging player.
Does HashKey have an API?
Yes. HashKey Pro, the institutional-grade platform, offers API connectivity for brokers, banks, and asset managers. The platform combines order book trading, OTC request-for-quote trading, custody, omnibus account support, and FIX protocol for institutional trading workflows.
What industry is HashKey in?
HashKey's product category is Digital Asset Financial Services. Its primary akta.pro industry code is FSAGAMAA, Tokenization Platforms (RWA, Securities, Funds), with a secondary code of FSAPAIAE, Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls). Its NAICS code is 5232 and its SIC code is 6200.