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HashKey Group

HKEX-listed digital asset group; operator of SFC-licensed HashKey Exchange

Hong KongIndustry

About

HashKey Group is a Hong Kong-based digital asset group that has operated since 2018. Dr Xiao Feng is its chairman and chief executive. Its holding company, HashKey Holdings, listed on the Main Board of the Hong Kong Stock Exchange on 17 December 2025 (stock code 3887). It was the first IPO of a digital asset company in Hong Kong.

Its main businesses are trading, on-chain services such as staking, asset management and real-world asset tokenisation. It runs HashKey Exchange, an SFC-licensed virtual asset trading platform, and holds licences or registrations in Dubai, Singapore, Japan and Bermuda.

HashKey Exchange was among the first licensed platforms allowed to serve retail users in Hong Kong, from August 2023. In June 2026 the group joined the HKMA's Tokenised Bond Expert Group. In August 2026 HashKey Exchange became an authorised distributor of HKDAP, the first regulated Hong Kong dollar stablecoin. This places HashKey at the centre of how regulated trading, tokenisation and stablecoin distribution work in Hong Kong.

Policy engagement

Joined the HKMA's Tokenised Bond Expert Group as an initial member in June 2026, discussing how Hong Kong's legal and regulatory regime applies to tokenised bond issuance and trading with regulators and banks.

Source: HashKey Group, 5 Jun 2026: joins HKMA Tokenised Bond Expert Group

Key actions

  1. HashKey Exchange became an authorised distributor for Anchorpoint's HKDAP stablecoin and completed its first HKDAP mint and redemption with clients.

    Source

  2. Joined the HKMA's Tokenised Bond Expert Group as an initial member institution.

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  3. HashKey Holdings listed on the Main Board of the Hong Kong Stock Exchange, the first IPO of a digital asset company in Hong Kong.

    Source

  4. Co-founded the Digital Asset Anti-Money Laundering Council to develop AML/CFT standards for regulated stablecoin issuance.

    Source

  5. HashKey Exchange had its SFC Type 1 and Type 7 licences upgraded so it could serve retail users.

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