HashKey Group

HashKey Group is a comprehensive digital asset company founded in 2018 and headquartered in Hong Kong, with offices in Singapore, Japan, and Dubai. Operating under a compliance-first philosophy, the group has built one of Asia's most complete regulated digital asset ecosystems, spanning exchange trading, asset management, custody, over-the-counter services, tokenization, and Web3 infrastructure. On December 17, 2025, HashKey Holdings Limited became the first digital asset company in Asia to list through an IPO on the Main Board of the Hong Kong Stock Exchange (ticker: 3887.HK), raising approximately HK$1.6 billion in proceeds at HK$6.68 per share—near the top of its marketed range—with the retail share allocation 393 times oversubscribed. Cornerstone investors included Fidelity, UBS, CDH Investments, and Cithara Fund.

Business Divisions

HashKey Group organizes its operations across four core pillars—transaction facilitation, on-chain services, asset management, and RWA tokenization—through several distinct business units.

HashKey Exchange is the group's flagship retail and institutional exchange in Hong Kong, and the largest licensed virtual asset trading platform in the territory. It holds a Type 1 (Dealing in Securities) and Type 7 (Providing Automated Trading Services) license from Hong Kong's Securities and Futures Commission (SFC), as well as Trust or Company Service Provider (TCSP) certification (TC006486). The exchange supports trading in BTC, ETH, SOL, XRP, AVAX, DOGE, Chainlink, and additional assets, with fiat gateway support for HKD and USD via direct bank transfers. Under SFC rules, retail users can trade Bitcoin, Ethereum, Solana, Avalanche, Chainlink, and a select list of other approved assets; professional investors have access to a broader range.

HashKey Global serves as the group's international exchange platform, catering to users outside Hong Kong under a Bermuda-based regulatory framework.

HashKey Capital is the group's global asset management arm, investing exclusively in blockchain technology and digital assets. It manages funds across venture, liquid, and multi-strategy mandates for institutional and high-net-worth investors.

HashKey OTC provides compliant over-the-counter trading services for large-volume transactions that require bespoke pricing and bilateral counterparty arrangements.

HashKey Cloud is the group's Web3 infrastructure division, operating validator nodes across more than 40 blockchain networks and providing institutional-grade staking access. In November 2025, HashKey Cloud was selected as one of approximately 30 KYB-verified institutional validators within the Marinade Select program on Solana.

HashKey Tokenisation (operating under the HashKey RWA brand) offers tokenization services for traditional financial assets, enabling institutions to issue and manage real-world assets on-chain.

HashKey Custody provides Multi-Party Computation (MPC)-based digital asset custody solutions for institutional clients. Customer funds are held in segregated accounts insured at institutional grade, entirely separate from exchange operational funds.

Security and Compliance

Security is central to HashKey Exchange's operating model. Customer assets are maintained in segregated accounts independent of the exchange's own funds. The platform holds ISO 27001 certification for information security management and ISO 27701 certification for data privacy management—two international standards frequently required by enterprise and institutional counterparties. The exchange operates under continuous SFC oversight, including capital adequacy requirements, mandatory audits, and client asset segregation rules.

Team and Governance

HashKey Group is led by Dr. Xiao Feng, who serves as Chairman and CEO, bringing experience across traditional Chinese finance, technology investment, and crypto-native asset management. Ru Haiyang serves as CEO of the Exchange Business Group. Anna Liu leads HashKey Tokenisation, and Eric Zhu holds the role of Chief Financial Officer. The group's publicly listed status on HKEX adds a governance layer uncommon in the crypto industry: mandatory disclosures, audited financials, and institutional shareholder accountability from cornerstone investors including Fidelity and UBS.

Solana Ecosystem Fit

HashKey Group has a meaningful and growing footprint in the Solana ecosystem through two channels: exchange trading and validator infrastructure.

On the trading side, SOL is listed on HashKey Exchange as a retail-approved asset, meaning it is accessible to ordinary Hong Kong residents alongside Bitcoin and Ethereum. Given the SFC's restrictive approved-asset list for retail users, Solana's inclusion signals its recognition as a mainstream institutional-grade digital asset in Hong Kong's regulated market.

On the infrastructure side, HashKey Cloud partnered with Marinade Select in November 2025. Marinade Select is the institutional staking platform built by Marinade Finance—one of Solana's longest-running liquid staking protocols—and is the exclusive staking provider for the 2025 U.S. Canary Marinade Solana ETF. HashKey Cloud, after passing a rigorous KYB selection process, operates as one of approximately 30 validators in the network, running Solana validator nodes, managing yield reporting, and delivering auditable reward distribution for institutional clients and high-net-worth investors.

This dual presence—retail SOL trading under SFC licensing and institutional SOL staking infrastructure through Marinade Select—positions HashKey Group as one of the most regulated and institutionally credible gateways into Solana for the Asian market.

Market Position

HashKey Exchange was named Digital Asset Exchange of the Year in January 2026. It is the largest licensed exchange in Hong Kong and one of only 13 SFC-licensed virtual asset trading platforms in operation as of mid-2026. HashKey Group's publicly listed status distinguishes it from virtually all other Asian crypto exchanges and reflects its positioning as a bridge between traditional financial institutions and the digital asset ecosystem.