The post HashKey Shares Dip After HKEX IPO Prices at HK$6.68 appeared on BitcoinEthereumNews.com. The IPO raised approximately HK$1.6 billion (about $206 millionThe post HashKey Shares Dip After HKEX IPO Prices at HK$6.68 appeared on BitcoinEthereumNews.com. The IPO raised approximately HK$1.6 billion (about $206 million

HashKey Shares Dip After HKEX IPO Prices at HK$6.68

  • The IPO raised approximately HK$1.6 billion (about $206 million) by selling roughly 240.6 million shares at HK$6.68 each
  • On its first day of trading, HashKey’s stock saw limited movement with some ups and downs
  • By midday and at closing, the stock closed slightly below or nearly flat relative to its offer price.

HashKey Holdings Ltd., operator of one of Hong Kong’s largest regulated cryptocurrency exchanges, officially began trading on the Hong Kong Stock Exchange, following its well-anticipated initial public offering (IPO).

Getting listed was a rather big milestone for the company and for the city’s plan to become a top destination for licensed crypto businesses.

The Money

The IPO raised approximately HK$1.6 billion (about $206 million) by selling roughly 240.6 million shares at HK$6.68 each, close to the marketed price range.

That being said, on its first day of trading, HashKey’s stock saw limited movement with some ups and downs.

The stock jumped more than 6% above its IPO price shortly after trading began, showing early enthusiasm from buyers. However, by midday and at closing, the stock closed slightly below or nearly flat relative to its offer price.

Related: SFC Warns on ‘Hong Kong Stablecoin Exchange’ Name as City Tightens Platform Policing

The uneven performance shows traders are being careful, likely because of recent swings in the crypto market, such as Bitcoin’s notable decline from its earlier annual peaks.

Still, HashKey’s stock market debut is a big moment for Hong Kong’s crypto scene. It’s the first major crypto exchange to go public there, showing the city’s push to become a top spot for regulated crypto companies. This is very different from mainland China, where crypto trading is completely banned.

HashKey’s market position

Founded in 2018, HashKey operates one of Hong Kong’s largest licensed cryptocurrency exchanges, serving both retail and institutional investors under official regulatory supervision.

The company also offers investment management and trading services, tokenization and on-chain execution capabilities, and custody and risk-management infrastructure.

HashKey says in its prospectus that it handles more than 75% of Hong Kong’s onshore crypto trading and has processed over HK$1.3 trillion in total spot trades.

The IPO saw very strong demand, especially from individual investors, who applied for nearly 394 times more shares than were available. It also got solid support from big financial institutions like Fidelity International and UBS.

Despite its dominant market share locally, HashKey reported declining trading revenue this year, attributed to a general slowdown in the crypto market. Revenue fell in the first half of the year compared to 2024, highlighting reliance on trading volumes.

Related: Hong Kong Unveils 10-Year Plan for RWA Tokenization and Digital Markets

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Source: https://coinedition.com/hashkey-raises-hk1-61-billion-in-hkex-ipo-shares-end-near-flat-on-debut/

Market Opportunity
1 Logo
1 Price(1)
$0.006233
$0.006233$0.006233
-7.83%
USD
1 (1) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

MoneyGram launches stablecoin-powered app in Colombia

MoneyGram launches stablecoin-powered app in Colombia

The post MoneyGram launches stablecoin-powered app in Colombia appeared on BitcoinEthereumNews.com. MoneyGram has launched a new mobile application in Colombia that uses USD-pegged stablecoins to modernize cross-border remittances. According to an announcement on Wednesday, the app allows customers to receive money instantly into a US dollar balance backed by Circle’s USDC stablecoin, which can be stored, spent, or cashed out through MoneyGram’s global retail network. The rollout is designed to address the volatility of local currencies, particularly the Colombian peso. Built on the Stellar blockchain and supported by wallet infrastructure provider Crossmint, the app marks MoneyGram’s most significant move yet to integrate stablecoins into consumer-facing services. Colombia was selected as the first market due to its heavy reliance on inbound remittances—families in the country receive more than 22 times the amount they send abroad, according to Statista. The announcement said future expansions will target other remittance-heavy markets. MoneyGram, which has nearly 500,000 retail locations globally, has experimented with blockchain rails since partnering with the Stellar Development Foundation in 2021. It has since built cash on and off ramps for stablecoins, developed APIs for crypto integration, and incorporated stablecoins into its internal settlement processes. “This launch is the first step toward a world where every person, everywhere, has access to dollar stablecoins,” CEO Anthony Soohoo stated. The company emphasized compliance, citing decades of regulatory experience, though stablecoin oversight remains fluid. The US Congress passed the GENIUS Act earlier this year, establishing a framework for stablecoin regulation, which MoneyGram has pointed to as providing clearer guardrails. This is a developing story. This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication. Get the news in your inbox. Explore Blockworks newsletters: Source: https://blockworks.co/news/moneygram-stablecoin-app-colombia
Share
BitcoinEthereumNews2025/09/18 07:04
Optum Golf Channel Games Debut In Prime Time

Optum Golf Channel Games Debut In Prime Time

The post Optum Golf Channel Games Debut In Prime Time appeared on BitcoinEthereumNews.com. FARMINGDALE, NEW YORK – SEPTEMBER 28: (L-R) Scottie Scheffler of Team
Share
BitcoinEthereumNews2025/12/18 07:21
Google's AP2 protocol has been released. Does encrypted AI still have a chance?

Google's AP2 protocol has been released. Does encrypted AI still have a chance?

Following the MCP and A2A protocols, the AI Agent market has seen another blockbuster arrival: the Agent Payments Protocol (AP2), developed by Google. This will clearly further enhance AI Agents' autonomous multi-tasking capabilities, but the unfortunate reality is that it has little to do with web3AI. Let's take a closer look: What problem does AP2 solve? Simply put, the MCP protocol is like a universal hook, enabling AI agents to connect to various external tools and data sources; A2A is a team collaboration communication protocol that allows multiple AI agents to cooperate with each other to complete complex tasks; AP2 completes the last piece of the puzzle - payment capability. In other words, MCP opens up connectivity, A2A promotes collaboration efficiency, and AP2 achieves value exchange. The arrival of AP2 truly injects "soul" into the autonomous collaboration and task execution of Multi-Agents. Imagine AI Agents connecting Qunar, Meituan, and Didi to complete the booking of flights, hotels, and car rentals, but then getting stuck at the point of "self-payment." What's the point of all that multitasking? So, remember this: AP2 is an extension of MCP+A2A, solving the last mile problem of AI Agent automated execution. What are the technical highlights of AP2? The core innovation of AP2 is the Mandates mechanism, which is divided into real-time authorization mode and delegated authorization mode. Real-time authorization is easy to understand. The AI Agent finds the product and shows it to you. The operation can only be performed after the user signs. Delegated authorization requires the user to set rules in advance, such as only buying the iPhone 17 when the price drops to 5,000. The AI Agent monitors the trigger conditions and executes automatically. The implementation logic is cryptographically signed using Verifiable Credentials (VCs). Users can set complex commission conditions, including price ranges, time limits, and payment method priorities, forming a tamper-proof digital contract. Once signed, the AI Agent executes according to the conditions, with VCs ensuring auditability and security at every step. Of particular note is the "A2A x402" extension, a technical component developed by Google specifically for crypto payments, developed in collaboration with Coinbase and the Ethereum Foundation. This extension enables AI Agents to seamlessly process stablecoins, ETH, and other blockchain assets, supporting native payment scenarios within the Web3 ecosystem. What kind of imagination space can AP2 bring? After analyzing the technical principles, do you think that's it? Yes, in fact, the AP2 is boring when it is disassembled alone. Its real charm lies in connecting and opening up the "MCP+A2A+AP2" technology stack, completely opening up the complete link of AI Agent's autonomous analysis+execution+payment. From now on, AI Agents can open up many application scenarios. For example, AI Agents for stock investment and financial management can help us monitor the market 24/7 and conduct independent transactions. Enterprise procurement AI Agents can automatically replenish and renew without human intervention. AP2's complementary payment capabilities will further expand the penetration of the Agent-to-Agent economy into more scenarios. Google obviously understands that after the technical framework is established, the ecological implementation must be relied upon, so it has brought in more than 60 partners to develop it, almost covering the entire payment and business ecosystem. Interestingly, it also involves major Crypto players such as Ethereum, Coinbase, MetaMask, and Sui. Combined with the current trend of currency and stock integration, the imagination space has been doubled. Is web3 AI really dead? Not entirely. Google's AP2 looks complete, but it only achieves technical compatibility with Crypto payments. It can only be regarded as an extension of the traditional authorization framework and belongs to the category of automated execution. There is a "paradigm" difference between it and the autonomous asset management pursued by pure Crypto native solutions. The Crypto-native solutions under exploration are taking the "decentralized custody + on-chain verification" route, including AI Agent autonomous asset management, AI Agent autonomous transactions (DeFAI), AI Agent digital identity and on-chain reputation system (ERC-8004...), AI Agent on-chain governance DAO framework, AI Agent NPC and digital avatars, and many other interesting and fun directions. Ultimately, once users get used to AI Agent payments in traditional fields, their acceptance of AI Agents autonomously owning digital assets will also increase. And for those scenarios that AP2 cannot reach, such as anonymous transactions, censorship-resistant payments, and decentralized asset management, there will always be a time for crypto-native solutions to show their strength? The two are more likely to be complementary rather than competitive, but to be honest, the key technological advancements behind AI Agents currently all come from web2AI, and web3AI still needs to keep up the good work!
Share
PANews2025/09/18 07:00