Hong Kong Crypto Exchange HashKey to Raise $206 Million in IPO

Cryptocurrency exchange HashKey is set to raise $206 million after pricing its initial public offering, Reuters reported Monday (Dec. 15), citing an unnamed source.

HashKey, founded in 2018, is Hong Kong’s largest licensed crypto exchange, the report said. Its other services include asset management, brokerage and tokenization. The company is due to begin trading on the Hong Kong Stock Exchange Wednesday (Dec. 17).

The IPO is happening amid a roller coaster year for crypto prices, which reached record numbers during 2025, per the report. The most popular crypto, Bitcoin, fell by 36% in about a month after reaching an all-time high above $126,000 in early ⁠October.

Meanwhile, the Chinese government, which outlawed crypto trading in…

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