HashKey Holdings, parent company of a major Hong Kong crypto exchange, is closer to a public listing, as per Hong Kong Stock Exchange filings. A 633-page information pack was published, indicating progress towards an IPO, pending final approval. JPMorgan, Guotai Junan International, and Haitong International are listed as sponsors.

HashKey’s IPO plans come after reports in October hinted at a listing in Hong Kong. With a 24-hour volume of nearly $108 million, the exchange attracted $30 million in investment from Gaorong Ventures. HashKey Europe also received approval for a virtual asset service provider license in Ireland.

Hong Kong’s growing crypto industry faces China’s resistance. Mainland Chinese authorities have discouraged local firms from engaging in stablecoin-related activities in Hong Kong. Chinese technology giants like Ant Group and JD.com halted plans to issue stablecoins in Hong Kong due to regulatory concerns. The People’s Bank of China reiterated its 2021 ban on crypto trading and mining.

Read more at Cointelegraph: HashKey IPO on HKEX approved amid mainland crypto quarantine