HashKey Capital, one of Asia’s digital asset leaders that specializes in blockchain and crypto investments announced that it has secured $500 million for its third investment fund which is expected to be used to build Web3 and promote crypto startups globally.
HashKey made the announcement, stating that the new fund referred to as HashKey FinTech Investment Fund III was supported by other joint ventures including sovereign wealth funds, corporations, and family offices.
Dr. Xiao Feng, Chairman of HashKey Group, also highlighted that the new fund will follow the company’s investment tenets that have previously produced results, while also looking for investments in the blockchain industry that can catapult the sector into the next phase of prominence.
It is important to note that the new fund was secured despite the crippling crypto market, and digital firms are struggling to survive in the overdrawn crypto winter. This demonstrates that there is still room for growth in the industry.
Earlier in January, Animoca Brands announced that it was seeking $1 billion in funding for investing in Web3 and the Metaverse concept.
In a similar situation, Wyre Inc., recently announced that it has secured a new investor that supported the firm with funding, thus causing the firm to resume its normal business operations that were previously altered.
The Growth of the Blockchain Industry in Hong Kong
The blockchain industry in Hong Kong is rapidly expanding, with a focus on the development of financial technology and the use of blockchain for supply chain management and digital identity.
Furthermore, Hong Kong has a long history of international trade and finance, which has aided in attracting blockchain firms and investors to the region. However, regulations remain hazy, and the government is still determining how to approach the crypto and blockchain industries.
In November, the Hong Kong regulator Securities and Futures Commission (SFC) released criteria for entities wishing to offer an initial public offering (IPO) of an exchange-traded fund (ETF) linked to digital asset futures.
While in September, PR Newswire announced in a press release that HashKey Capital has gotten permission from the SFC of Hong Kong to operate solely digital assets in Hong Kong.
Seba bank, a crypto bank based in Switzerland made an announcement that it is establishing a new office in Hong Kong. The bank stated that the focus of the Hong Kong office will be on consultancy and market analysis, as well as finding strategic partners for its Swiss headquarters.
