HashKey debuted on Hong Kong’s HKEX following a $206 million oversubscribed IPO, with the stock seeing notable volatility on its first day of trading.
HashKey, Hong Kong’s largest cryptocurrency exchange, has made its trading debut on the Stock Exchange of Hong Kong (HKEX) following a $206 million initial public offering.
Shares of HashKey Holdings officially listed on the HKEX main board on Wednesday, opening at 6.7 Hong Kong dollars ($0.86), according to data from the exchange.
Announcing the news in a blog post, HashKey Group said the exchange became the first publicly traded digital asset company in Asia to go public through an IPO in Hong Kong.
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While Silicon Valley dominates Web2, emerging markets like the UAE and Singapore lead DePIN adoption with better regulations and real infrastructure needs. Opinion by: Yanal M. Hammouda, head of market expansion at WingbitThe decentralized physical infrastructure network (DePIN) sector saw $150 million of capital flow during Q1 2025, with a projected market size of $3.5 trillion by 2028. Yet the most significant development isn’t the capital raised but where these networks operate. Emerging markets like the Middle East, Southeast Asia and South America — rather than Silicon Valley — are driving the future of DePIN adoption. Read more