HashKey Group is launching its IPO, aiming to raise up to $214.7 million. The IPO is set to debut on Dec. 17, with the company offering 240.6 million shares at $0.76–$0.89 each, valuing HashKey at $2.46 billion. Investors can apply for shares online until Friday.

Founded in 2018, HashKey is now Hong Kong’s largest crypto exchange, capturing a 75% market share. It began full-scale operations in 2023 after securing regulatory approvals in 2022. By Sept. 30, the company had facilitated $167 billion in cumulative spot trading volume.

HashKey provides digital asset services to institutional and retail investors, including spot exchange, OTC trades, staking, and tokenization. It operates HashKey Chain, an Ethereum layer-2 network for RWAs, stablecoins, and decentralized applications. The company managed $1 billion in assets as of Sept. 30.

Backed by sponsors like JPMorgan, HashKey’s IPO aims to enhance its ecosystem, infrastructure, risk management, and talent acquisition. The IPO’s proceeds will support these efforts as the company continues to grow and expand its services in the market.

The IPO comes during a period of increased IPO activity in Hong Kong, with a 209% year-on-year increase in funds raised through IPOs in 2025. This trend signals a growing interest in the market for IPOs, with HashKey’s offering adding to the momentum of the ongoing IPO boom in Hong Kong.

Read more at Cointelegraph: HashKey Launches IPO To Expand Hong Kong Crypto Empire