HashKey Holdings merged its two separate cryptocurrency trading apps into a single portal, keeping licensing and compliance tied to each jurisdiction.
HashKey Merges Exchange, Global Apps into One Portal
28 July 2026 - 05:20 UTC
Front-ends merged, licences intact
Hong Kong-listed HashKey, which operates the territory's largest licensed virtual asset exchange by trading volume, said in a 27 Jul statement that its Crypto Trading App now runs on a "multi-site unification" model, merging HashKey Exchange and HashKey Global across hubs in Hong Kong, Singapore, Dubai and Bermuda. Access to each region's features still depends on a user's verification credentials, and users in jurisdictions where HashKey lacks a licence cannot reach those functions, the company said. HashKey, which listed on the Hong Kong Stock Exchange in December, calls the approach "unified entry, localized compliance." The update also adds a Web3 wallet portal running separately from the exchange, giving users onchain access within the same app.
Shrinking site, shared entrance
The merger papers over a sharp divergence between HashKey's two exchange businesses. Volume at its Bermuda-based global platform fell to HK$14.7bn ($1.9bn) in 2025 from HK$304bn ($38.8bn) a year earlier, while Hong Kong grew 72% to HK$530bn ($67.6bn), according to the group's 2025 annual report. Overall volume fell to HK$591bn ($75.3bn) from HK$638bn ($81.4bn). HashKey blamed weak markets and softer retail activity for the decline, and said the global app will now focus on derivatives trading. Even so, folding a shrinking platform behind the same entry point as a growing one raises the stakes of the unification succeeding.
HashKey reported 1.5mn registered users and 148k funded customers at end-2025 but has not said how many hold accounts in more than one market, nor what the consolidation costs or saves. Shares in HashKey Holdings have traded below their December listing highs since.
