HashKey Holdings officially debuted on the main board of the Hong Kong Stock Exchange on December 17. The listing marks the first time in the city. HashKey is now the first digital asset company to complete an initial public offering in Hong Kong. The company is listed under the stock code 3887.HK.
HashKey Holdings (股票代号): 3887. HK）今日正式在香港联合交易所主板挂牌上市。公司引入包括 UBS AM Singapore、富达（Fidelity）、鼎晖投资（CDH）在内的 9 名基石投资者。HashKey亦成为香港市场首家数字资产公司IPO. HashKey 董事长兼 CEO…
— 吴说区块链 (@wublockchain12) December 17, 2025
The debut marks an important step not only for HashKey, but also for Hong Kong’s broader crypto and digital finance ambitions. Places a regulated digital asset company directly on the public markets, under close scrutiny and clear rules. At the IPO ceremony, company executives framed the move as a long-term commitment rather than a goal. HashKey described the IPO as a new starting point based on compliance and infrastructure.
UBS and Fidelity lead strong fundamental alignment
HashKey entered the public market with great support. The company secured nine cornerstone investors before the IPO. These included UBS Asset Management Singapore, Fidelity and CDH Investments. This alignment sent a clear signal. Large global institutions are willing to support a digital asset company when regulation, structure and governance are in place. Market watchers saw the pivotal support as a vote of confidence in HashKey’s business model and Hong Kong’s regulatory direction.
The presence of traditional financial names also highlighted a broader shift. Crypto infrastructure companies no longer operate on the edge. They are increasingly moving towards regulated and institution-friendly environments. As a result, HashKey’s listing attracted significant attention from traditional and crypto-native investors closely watching Asia’s digital asset space.
Compliance-focused strategy hits the market
HashKey President and CEO Dr. Xiao Feng emphasized compliance throughout the listing. He said the company remains firmly rooted in Hong Kong and committed to regulated growth. According to Dr. Xiao, HashKey plans to continue strengthening its core capabilities. These include security, escrow services, on-chain execution and on-chain compliance. He described these areas as essential for long-term credibility and scale.
Since its founding in 2018, HashKey has followed a clear strategy. Compliance comes first. Technology supports everything else. Over time, this approach helped the company build regulated platforms that serve retail and institutional clients. HashKey now operates in three main areas. These include transaction facilitation, on-chain services and asset management. Together, they form a complete digital asset infrastructure offering.
What the IPO means for Hong Kong’s digital push
HashKey’s public listing comes as Hong Kong accelerates its digital finance agenda. In fact, regulators continue to promote tokenization, real-world asset projects, and supported crypto trading frameworks. In that context, the HashKey IPO has symbolic weight. It shows that a digital asset company can grow, follow rules and still reach the public markets in Asia.
The company said it plans to support Hong Kong’s ambition to become a global digital asset hub. To that end, this includes helping to bridge traditional finance with blockchain-based systems. As a result, for the market, the message is simple: cryptocurrencies in Hong Kong are coming out of experimentation mode. In fact, now that HashKey is listed, the next phase seems more structured, regulated and very real.
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