HashKey

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

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

• Licensed digital asset exchange
• Institutional crypto services
• Asset tokenization advisory
• Blockchain node validation
• Digital asset management

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. 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.
2. 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.
3. Institutional Bitcoin Lending: Revenue from providing institutional-grade Bitcoin lending services to enable clients to generate yield from digital asset reserves.
4. Tokenization Services: Revenue from advising and facilitating tokenization of various asset types, including token economics design, legal structuring, and execution services for asset issuers.
5. 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

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core 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

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability6 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered major, core and minor.

• Aptos Foundation and DayamajorStrategic or Co-development Partner · 7 June 2026HashKey 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 or Co-development Partner · 23 April 2026Strategic 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.
• BITMAINmajorStrategic or Co-development Partner · 21 April 2026HashKey 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)minorStrategic or Co-development Partner · 20 April 2026HashKey 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)coreStrategic or Co-development Partner · 10 April 2026HashKey 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 or Co-development Partner · 9 April 2026Strategic 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 LimitedcoreStrategic or Co-development Partner · 24 March 2026HashKey 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 LimitedcoreChannel Partner/ Reseller/ Distributor · 24 March 2026Eddid 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

Direct 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

• Xx.com/HashKeyGroup
• LinkedInlinkedin.com/company/hashkey-digital-asset-group
• Facebookfacebook.com/hashkeygroup

Compliance13 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries11 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments13 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HashKey