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HashKey Exchange

HashKey Exchange is an Asia-based exchange, operating under the financial service provider, HashKey Group. The digital asset trading platform focuses on regulation compliance and security and also utilizes all the subsidiaries in the HashKey ecosystem to obtain the partnerships and funding needed to grow. [1]

Overview

Founded in 2018, the HashKey Group has built its exchange to facilitate secure and regulatory-compliant trading of digital assets, holding both Type 1 (dealing in securities) and Type 7 (providing automated trading services) licenses issued by the SFC. HashKey Exchange also holds the ISO 27001 certification for Information Security Management and the ISO 27701 certification for Privacy Information Management. The forthcoming implementation of proof of reserves in Q3 of 2023 aims to reinforce asset security, with client funds fortified by institutional custody-grade insurance. [1][2]

To ensure user convenience, HashKey Exchange offers local bank on/off ramp support in Hong Kong, streamlining the transfer of USD between local bank accounts and the platform. Through partnerships with institutions like ZA Bank, HashKey aims to further improve its services, with plans for additional bank integrations in the pipeline. For professional investors, they provide personalized client services through designated relationship managers, poised to address inquiries and concerns promptly. [1][2]

HashKey Ecosystem

The HashKey Ecosystem encompasses diverse ventures such as exchange services, brokerage, venture capital funds, infrastructure, and technology services; primarily catering to institutions, family offices, funds, and professional investors. [3]

HashKey Capital

HashKey Capital serves as a specialized institutional asset manager focusing on blockchain technology and digital assets. Leveraging its substantial deal pipeline and industry expertise, the firm invests in promising companies across Asia and globally. HashKey Capital takes a proactive approach to facilitate growth and support for portfolio companies, utilizing traditional finance networks for sustainable development. [4]

HashQuark

HashQuark is a infrastructure provider, offering comprehensive full-stack services including node validation, rewards reporting, risk protection, and advanced APIs. The platform delivers enterprise-level validation solutions for more than 40 major public chains across Asia, Europe, and North America, serving as a core component of the HashKey Group. Since its inception in 2018, HashQuark has managed over 18,000 nodes, ensuring secure and continuous infrastructure operations with a notable security track record. The service encompasses a wide spectrum of protocols, spanning over 80 across various chains, and offers customized white-label validator solutions, overseen by a dedicated engineering team to bolster asset security. [5]

Technology Services

HashKey Group collaborates closely with strategic partners in the digital asset sector, engaging in research and technology development. The group offers a diverse range of technology services and actively seeks collaborations with various industry participants to shape the future of digital assets. [6]

HashKey Me

HashKey ME delivers a secure and user-friendly wallet solution tailored for institutions. It features simplicity, multichain support, enhanced security, and recoverability. [7]

Wanxiang Blockchain Lab

Established in 2017 and backed by China Wanxiang Holdings, the lab is a non-profit research institution dedicated to advancing technology. It provides support for research, entrepreneurship, development, and real-world applications in the field. [8]

Wanxiang Digital Lab

Serving as the bridge between China Wanxiang Holding and Singapore's digital technology landscape, the Digital Lab fosters productive collaborations between local enterprises and initiatives, facilitating connections between Chinese digital ventures and Singaporean markets. [9]

Wanxiang Blockchain

Wanxiang Blockchain aims to cultivate a thriving ecosystem by empowering investments and entrepreneurship while offering innovative technological solutions. [10]

Datayes

Datayes identifies emerging trends within the investment management industry and is dedicated to crafting an advanced investment platform by integrating AI, Big Data, cloud computing, and professional investment philosophy. The platform has launched Datayes! and UQER for institutional clients, along with the Datayes! App for individual clients, serving a global user base of over 2,000 institutions and more than 10 million individuals. [11]

History

HashKey PRO Launch

In April 2023, HashKey Group launched HashKey PRO, a secure virtual asset exchange based in Asia. The platform gained regulatory approval from the Securities and Futures Commission of Hong Kong and operated under Type 1 and Type 7 licenses. Client funds were protected through segregated accounts and comprehensive insurance. HashKey PRO, ISO 27001, and ISO 27701 certified, prioritized compliance and security. The platform offers fiat support via SWIFT transfers, partnered with ZA Bank for settlement, and had plans to expand its offerings. [16]

License to Serve Retail Customers

On August 3, 2023, HashKey Exchange became the first entity in Hong Kong to secure a license under the city's new crypto trading regime, enabling retail services on its trading platform. This follows the introduction of the Virtual Asset Service Provider licensing system on June 1, 2023, aligning with Hong Kong's effort to encourage collaboration between banks and licensed firms and establish the city as a crypto industry hub. The new licensing rules require crypto trading platforms to be licensed to serve retail investors within the city. [12][13][14][15]

From August 28, 2023, Hashkey Exchange began to offer and retail services in Hong Kong. The exchange obtained a regulatory clearance to offer virtual asset trading services in the jurisdiction becoming the first exchange to have its previous two licenses upgraded by the country’s Securities and Future Commission (SFC).

Weng Xiaoqi, the Chief Operating Officer of HashKey disclosed that before the rollout of the service, it would carry out an in-house assessment to grade all investors. It would utilize their investment history and a new questionnaire to get the user's views on digital assets. [18]

Big news! HashKey Exchange, a licensed virtual asset exchange in Hong Kong, has upgraded its type 1 & 7 licences to offer retail services. Now, all users can enjoy a safe and simple trading experience! - HashKey

MoU Signing with China Asset Management

On November 20, 2023, China Asset Management's Hong Kong branch formalized a Memorandum of Understanding (MoU) with HashKey Exchange and HamsaTech Hong Kong. The collaboration was made for the joint advancement and cultivation of Web 3.0 initiatives within the asset management domain in Hong Kong. This strategic partnership aligns with the Hong Kong government's focus on seizing the "golden opportunity" presented by Web 3.0, as highlighted in the 2023-2024 Budget. [19]

During Hong Kong FinTech Week 2023, the Financial Services and the Treasury Bureau (FSTB) outlined substantial initiatives for fintech development, with a specific emphasis on real economy applications and innovations in the digital assets and Web 3.0 sector. The Securities and Futures Commission (SFC) concurrently introduced new regulations to safeguard investors and promote innovation in the virtual assets realm. The SFC's circulars on tokenized securities-related activities and tokenizations of SFC-authorized investment products provide clarity on regulatory expectations for investor protection. [19]

Team

Senior Leadership

  • Dr Xiao Feng: Chairman & CEO

Business Team Leaders

  • Deng Chao: HashKey Singapore Executive President & HashKey Capital CEO
  • : HashKey Hong Kong Executive President
  • Livio Weng: Assistant to Chairman and Group Chief Operating Officer
  • Leo Li: CEO of HashQuark
  • : General Manager, Tokenisation

Functional Teams

  • Dayong Zhang: Chief Commercial Officer
  • Eric Zhu: Chief Financial Officer
  • Rain Long: Chief Human Resources and Administrative Officer
  • Jeff Lu: Chief Technology Officer
  • Yanars Yang: Chief Legal and Compliance Officer

Senior Advisors to the Board

  • TF Cheng: Senior Advisor and Director, Financial Services and Governance
  • James H. Boettcher: Senior Advisor, Venture Capital

[17]

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