HashKey Launches $500M Digital Asset Treasury Fund as Hong Kong Pushes Stablecoin Rules
.png)
HashKey Group has announced plans to launch its first Digital Asset Treasury (DAT) fund with an initial target of $500 million, focusing on mainstream cryptocurrencies like Bitcoin and Ethereum. The strategy mirrors the approach of firms such as MicroStrategy, which has amassed over $63 billion in crypto holdings, and reflects a broader trend of corporations worldwide adopting DAT models to capitalize on rising token prices and friendlier regulations. Hong Kong, eager to establish itself as a premier digital asset hub, recently introduced Asia’s first stablecoin licensing regime, setting strict requirements including large liquid reserves and rigorous KYC rules. While dozens of firms (including Bank of China, JD.com, Ant Group, and Animoca Brands) have shown interest, the Hong Kong Monetary Authority has signaled that only a handful of well-capitalized issuers will qualify in the first round. This cautious approach, though raising compliance costs and limiting smaller players, is designed to build a resilient, trusted stablecoin ecosystem and may evolve into a more commercially viable framework over time. Meanwhile, Hong Kong’s growing crypto presence from exchange shops and ATMs to high-profile events like the Bitcoin Asia Summit featuring Eric Trump, highlights its ambitions to tap into the $3.8 trillion digital assets market and serve as China’s testing ground for broader crypto adoption.