HashKey Exchange, the largest licensed digital asset platform in Hong Kong, has received approval from JPMorgan to open a segregated client money account. This account will protect customer deposits in the event of financial difficulties, unlike what occurred at FTX. JPMorgan is also serving as co-sponsor for HashKey Holdings’ Hong Kong IPO, aiming to raise approximately $215 million. According to 2025 data from Frost & Sullivan, the exchange controls over 75% of the licensed digital asset market in Hong Kong. HashKey has been expanding its banking relationships, having opened a customer funds account with DBS Bank and previously facilitating accounts with Deutsche Bank.
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