HashKey Debuts on HKEX With UBS and Fidelity as Cornerstone Backers

HashKey Holdings officially debuted on the main board of the Hong Kong Stock Exchange on December 17. The listing marks a first for the city. HashKey is now the first digital asset company to complete an IPO in Hong Kong. The company trades under the stock code 3887.HK. 

The debut signals a major step not just for HashKey, but for Hong Kong’s broader crypto and digital finance ambitions. It places a regulated digital asset firm directly into the public markets, under close scrutiny and clear rules. At the listing ceremony, company executives framed the move as a long-term commitment rather than a finish line. HashKey described the IPO as a new starting point built on compliance and infrastructure.

UBS, Fidelity Lead Strong Cornerstone Lineup

HashKey entered the public market with heavyweight backing. The company secured nine cornerstone investors ahead of the IPO. Among them were UBS Asset Management Singapore, Fidelity and CDH Investments. This lineup 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 viewed the cornerstone support as a vote of confidence in HashKey’s business model and Hong Kong’s regulatory direction.

The presence of traditional finance names also highlighted a broader shift. Crypto infrastructure firms are no longer operating at the edges. They are increasingly moving into regulated, institutional-friendly environments. As a result, HashKey’s listing drew strong attention from crypto-native and traditional investors watching Asia’s digital asset space closely.

A Compliance-First Strategy Comes to Market

HashKey Chairman 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 core capabilities. These include security, custody 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 across three core areas. These include transaction facilitation, on-chain services and asset management. Together, they form a full-stack digital asset infrastructure offering.

What the IPO Means for Hong Kong’s Digital Push

HashKey’s public listing arrives as Hong Kong accelerates its digital finance agenda. Indeed, regulators continue to promote tokenization, real-world asset projects, and compliant crypto trading frameworks. Given that backdrop, HashKey’s IPO carries symbolic weight. It shows that a digital asset firm can grow, follow rules, and still reach 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 bridge traditional finance with blockchain-based systems. As a result, for the market, the message is simple: crypto in Hong Kong is moving out of experimentation mode. Indeed, with HashKey now publicly listed, the next phase looks more structured, regulated, and very real.