We advised HashKey Group in connection with the transaction 

Davis Polk is advising HashKey Group in connection with its completed Series A financing round, in which it raised nearly $100 million at a pre-money valuation above $1.2 billion.

Established in 2018, HashKey Group is Asia’s leading end-to-end digital asset financial services group. Headquartered in Hong Kong and with operations in Singapore and Tokyo, HashKey has a wide range of businesses that provide retail investors, large institutions, family offices, funds, and professional and accredited investors with innovative investment opportunities and end-to-end solutions in the fields of digital assets and the Web3 ecosystem. Its core businesses include a licensed virtual asset exchange regulated by the Hong Kong Securities and Futures Commission, a global asset manager investing in blockchain technology and digital assets, as well as a leading blockchain node validation service provider, among other services. The newly raised capital will be used to solidify HashKey’s Web3 ecosystem, accelerate the product diversification of its licensed business in Hong Kong and drive its global development. 

The Davis Polk corporate team includes partner Miranda So, counsel – registered foreign lawyer Xi Shi and associate Jason Shen. Partner Martin Rogers and associate Noble Mak are providing regulatory advice. Members of the Davis Polk team are based in Hong Kong office.