HashKey goes public in quiet IPO

HashKey, one of the largest regulated crypto exchanges operating out of Hong Kong, went public today in a notably quiet IPO. It is the first major crypto exchange tied to the Chinese market to list publicly, and only second ever to Coinbase in 2021.

They raised HK$1.6 B ($206 M), and despite the success, the listing did not come with the hype of prior crypto exchange IPOs.

HashKey operates under Hong Kong's licensing, which has become the gateway for digital asset prevalence in China. Going public formalizes that position and places a regulated crypto exchange in public markets.