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HashKey passed its listing hearing with HKEX, moving closer to going public
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The company operates Hong Kong’s largest licensed crypto exchange
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Funds will go toward technology upgrades, security, and market expansion
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HashKey has reported losses each year since 2022 due to heavy investment
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Bloomberg reports the firm could raise up to $500M in the offering
HashKey Advances Toward Public Listing
HashKey has cleared the Hong Kong Stock Exchange’s listing hearing, a major milestone in its progress toward an IPO. The company revealed the update in its Post Hearing Information Pack, following an earlier confidential filing.
With the hearing complete, the next steps include prospectus registration, investor marketing, and pricing.
IPO Proceeds Will Support Expansion
HashKey plans to use its IPO funding for technology enhancements, product innovation, security improvements, and market expansion. The company supports 80 tokens on its exchange and holds a full virtual asset trading license in Hong Kong.
Losses Reflect Heavy Upfront Investment
HashKey’s filing shows continuing net losses, including HK$506.7 million in the first half of 2025. The company attributes the losses to the cost of building a compliant and scalable digital asset platform. If successful, HashKey would join OSL as one of the few publicly listed crypto exchanges in Hong Kong.
