PANews reported on December 9th that, according to the Hong Kong Economic Journal, HASHKEY HLDGS (new listing number: 03887) will be open for IPO from December 9th to 12th. HASHKEY, the parent company of the Hong Kong-licensed virtual asset exchange Hashkey Exchange, plans to issue 240 million shares, with 10% offered publicly in Hong Kong. The offer price ranges from HK$5.95 to HK$6.95, raising up to HK$1.67 billion. Each lot consists of 400 shares, with an entry fee of HK$2,808. HASHKEY is expected to list on December 17th. JPMorgan, Guotai Haitong, and Guotai Junan International are the joint sponsors. As of October 31, the company held HK$1.48 billion in cash and cash equivalents and HK$570 million in digital assets, of which 89% were mainstream tokens, including ETH, BTC, USDC, USDT, and SOL. As of the end of September, the platform's assets exceeded HK$19.9 billion, with 3.1% held in hot wallets and 96.9% in cold wallets. The exchange's cumulative spot trading volume reached HK$1.3 trillion. Its main business is transaction facilitation services, accounting for nearly 70% of revenue. In the past three years, HASHKEY incurred losses of HK$590 million, HK$580 million, and HK$1.19 billion respectively. In the first six months of this year, HASHKEY's loss attributable to equity shareholders was HK$510 million, narrowing by 34.8% year-on-year, while revenue fell 26.1% to HK$280 million. In terms of shareholding, Lu Weiding, chairman of Wanxiang Group and an investor in HASHKEY, is one of the controlling shareholders, holding 43.2% of the shares and also having the right to exercise 22.9% of the voting rights of the employee stock ownership plan platform; Xiao Feng, the founder of HASHKEY, holds 16.3% of the shares; and other investors hold 17.6%. HASHKEY introduced a total of nine cornerstone investors, including UBS AM Singapore, Fidelity Investments, CDH, Xinting Fund, Infini, Zhiyuan Holdings (00990), Litong, Space Z PTE. LTD., and Shining Light Grace Limited, with an investment amount of US$75 million (approximately HK$590 million).PANews reported on December 9th that, according to the Hong Kong Economic Journal, HASHKEY HLDGS (new listing number: 03887) will be open for IPO from December 9th to 12th. HASHKEY, the parent company of the Hong Kong-licensed virtual asset exchange Hashkey Exchange, plans to issue 240 million shares, with 10% offered publicly in Hong Kong. The offer price ranges from HK$5.95 to HK$6.95, raising up to HK$1.67 billion. Each lot consists of 400 shares, with an entry fee of HK$2,808. HASHKEY is expected to list on December 17th. JPMorgan, Guotai Haitong, and Guotai Junan International are the joint sponsors. As of October 31, the company held HK$1.48 billion in cash and cash equivalents and HK$570 million in digital assets, of which 89% were mainstream tokens, including ETH, BTC, USDC, USDT, and SOL. As of the end of September, the platform's assets exceeded HK$19.9 billion, with 3.1% held in hot wallets and 96.9% in cold wallets. The exchange's cumulative spot trading volume reached HK$1.3 trillion. Its main business is transaction facilitation services, accounting for nearly 70% of revenue. In the past three years, HASHKEY incurred losses of HK$590 million, HK$580 million, and HK$1.19 billion respectively. In the first six months of this year, HASHKEY's loss attributable to equity shareholders was HK$510 million, narrowing by 34.8% year-on-year, while revenue fell 26.1% to HK$280 million. In terms of shareholding, Lu Weiding, chairman of Wanxiang Group and an investor in HASHKEY, is one of the controlling shareholders, holding 43.2% of the shares and also having the right to exercise 22.9% of the voting rights of the employee stock ownership plan platform; Xiao Feng, the founder of HASHKEY, holds 16.3% of the shares; and other investors hold 17.6%. HASHKEY introduced a total of nine cornerstone investors, including UBS AM Singapore, Fidelity Investments, CDH, Xinting Fund, Infini, Zhiyuan Holdings (00990), Litong, Space Z PTE. LTD., and Shining Light Grace Limited, with an investment amount of US$75 million (approximately HK$590 million).

                                                                               Office of the Comptroller of the Currency’s Jonathan Gould says crypto companies should have a path to supervision in the banking system, which can evolve to embrace blockchain.                     Crypto companies seeking a US federal bank charter should be treated no differently than other financial institutions, says Jonathan Gould, the head of the Office of the Comptroller of the Currency (OCC).Gould told a blockchain conference on Monday that some new charter applicants in the digital or fintech spaces could be seen as offering novel activities for a national trust bank, but noted “custody and safekeeping services have been happening electronically for decades.”“There is simply no justification for considering digital assets differently,” he added. “Additionally, it is important that we do not confine banks, including current national trust banks, to the technologies or businesses of the past.”Read more