Gaorong Ventures, a prominent Chinese venture capital company known for its early support of internet giants in the country, has invested $ 30 million in the operator of Hong Kong’s largest licensed crypto exchange, Hashkey Group, according to a Bloomberg report.
The support came by a valuation before money of over $ 1 billion, according to the report. A spokesman for Hashkey allegedly said the valuation after money was close to $ 1.5 billion.
China has banned cryptocurrencies several times. The latest crash came in 2021 so different crypto platforms leave the country, yet Chinese investors increase their efforts on the cryptocurrency room. For example, Tencent Holdings has recently invested in Crypto Market Maker Wintermute, reports the outlets.
Early last year, Hashkey Group raised a $ 100 million Serie A for a valuation of $ 1.2 billion after money.
The Hong Kong-based hashkey, established in 2018, runs the region’s first two licensed cryptocurrency exchanges and deals with venture financing and capital management.
