HashKey Holding Limited reported unaudited interim results for the six months ended June 30, 2026, saying it grew revenue and gross profit while narrowing its adjusted loss during a period when the global crypto asset market went through a correction and total market capitalization contracted.
Revenue rises and adjusted loss narrows
For the reporting period, HashKey posted total revenue of HK$343 million, up 20.6% from a year earlier. Gross profit came in at HK$208 million, an increase of 12.5% year over year. Gross margin improved to 60.6% compared with the second half of 2025.
The company said adjusted loss, measured on a non-IFRS basis, was HK$315 million, compared with HK$398 million in the same period last year, a narrowing of 21.0%. HashKey said operating conditions improved across its three business segments, with clearer recovery in the profitability of trading facilitation, faster commercialization in tokenization under its on-chain services unit, and continued optimization of revenue mix in asset management.
Trading facilitation remains the main growth engine
HashKey said its trading facilitation business generated HK$268 million in revenue during the period, up 38.6% year over year. Total platform trading volume rose to HK$282.2 billion, an increase of 31.8%.
Institutional client trading volume reached HK$231.5 billion, up 58.8% from a year earlier, accounting for 82.0% of total trading volume. The company said the figures reflected continued trust from institutional capital in regulated platforms.
Tokenization and asset management record progress
Outside the trading segment, HashKey reported progress in both on-chain services and asset management.
In tokenization, total value locked in on-chain real-world assets, or RWA TVL, reached HK$2.68 billion, up 167.8% from a year earlier. During the reporting period, the group launched what it described as Hong Kong’s first real estate RWA and Hong Kong’s first regulated silver RWA token.
In asset management, assets under management stood at HK$5.94 billion, while revenue from the segment was HK$38.84 million. The company said it refined its investment strategy, keeping a selective and tightly controlled approach in venture capital while also rolling out diversified, steady-yield products, including stablecoin and bitcoin wealth management products, as well as what it described as the industry’s first bitcoin mining power fund.
Singapore, Vietnam and SignalPlus deals disclosed
HashKey also outlined developments in investment and international expansion. In July 2026, a wholly owned subsidiary of the group signed a framework agreement with Singapore’s Asia Pacific Exchange, or APEX, and its major shareholders to acquire all of APEX’s equity.
According to the company, APEX holds both a Recognised Market Operator exchange license referred to in the release as an AE, and a Recognised Clearing House license referred to as an ACH, in Singapore. HashKey said the proposed acquisition, if completed, would strengthen its trading and clearing infrastructure for institutional markets.
In April 2026, HashKey Capital made a strategic investment in Vietnam’s CAEX crypto asset exchange and reached a strategic technology cooperation agreement at the group level to jointly build a compliant institutional-grade digital asset trading platform in Vietnam.
In May 2026, a fund under HashKey CapitalInvestment invested $40 million to lead SignalPlus’ Series B+ financing round, with the group contributing $20 million. HashKey said SignalPlus focuses on institutional digital asset options and derivatives technology services, and described the deal as a key move in building derivatives trading technology capability.
Partnerships with JPMorgan and DBS
To support long-term development, HashKey said it is deepening its ecosystem partnership network. On the traditional finance side, the group has expanded cooperation with international financial institutions including JPMorgan and DBS Bank to broaden fiat deposit and withdrawal channels.
On the ecosystem side, HashKey said it is working with blockchain networks and on-chain finance protocols including Canton and Morpho to explore institutional-grade on-chain applications. The group also said it initiated the Ethereum Application Alliance, or EAG, and is taking part in the buildout of the Ethereum ecosystem.
Xiao Feng outlines long-term path
HashKey Chairman and Chief Executive Officer Dr. Xiao Feng said: 「HashKey will evolve along a very clear path: from a digital asset trading platform to a digital asset financial market; from a single market to an Asian market network; from Crypto Native assets to RWA and tokenized assets; and ultimately to a new generation of digital financial infrastructure connecting pools of assets with pools of capital. Looking ahead, we will continue to pursue refined operations and business innovation, steadily improve profitability and capital efficiency, and create long-term, sustainable value for shareholders, clients and partners.」
Company profile
HashKey Holding Limited, stock code 3887.HK, was founded in 2018 and listed on the Hong Kong Stock Exchange on Dec. 17, 2025. The company said its business covers three core areas: trading facilitation, on-chain services and asset management, serving institutions, retail investors and blockchain ecosystem partners globally.