At the recently concluded 10th Global Blockchain Summit, Dr. Xiao Feng, Chairman and CEO of HashKey Group, provided forward-looking insights, stating that starting in 2024, Web3 will enter the "1995 moment" of the internet. The so-called "1995 moment" of the internet represents a watershed in the development of the internet industry; before 1995, it was a phase of building internet infrastructure, and after 1995, applications represented by large internet platforms experienced explosive growth. The blockchain industry is no different. Before 2024, Web3 is in the phase of building infrastructure such as blockchain technology, distributed ledgers, token economics, and smart contracts, followed by a phase of large-scale applications. The next decade will truly be a more exciting and explosive decade for blockchain and Web3.
In the financial sector, over the next decade, Web3 will build a new financial market system that is different from the current one. In the future, there will be two financial market systems coexisting in the world: one is the traditional financial market system based on bank accounts; the other is the crypto financial market system based on crypto accounts and tokens.
In Dr. Xiao Feng's closing speech titled "Redefining Tokens in the Age of AGI," he further elaborated on the redefinition of tokens in the era of artificial intelligence and their impact on the future economy. With the rapid development of technology, tokens have transformed from simple trading tools into important links connecting the real economy and the digital world. He attributed the transformation of tokens to "three cognitive revolutions" in human history, emphasizing the key roles of language, writing, and computer code in the development of human society, and predicted that tokens will become the core of the future digital economy. Tokens are not only products of technological advancement but also key tools driving global economic integration and digital transformation.
Dr. Xiao Feng's speech not only depicted the upcoming golden decade for Web3 but also foreshadowed the coexistence of two financial market systems in the future: traditional finance and token-based crypto finance. This transformation provides unprecedented opportunities for HashKey Group, which has been laying out its strategy in the crypto asset industry since six years ago. Since its establishment in 2018, under Dr. Xiao Feng's leadership, HashKey Group has actively engaged in the field to practice its love and faith in Web3.
Currently, HashKey Group has built an ecological landscape across various regions and the entire industry chain within a high-compliance regulatory framework in places like Hong Kong, Singapore, Japan, and Bermuda. Especially in Hong Kong, members of HashKey Group have obtained all necessary licenses from the Hong Kong Securities and Futures Commission to provide virtual asset-related services, becoming a fully licensed unicorn in Hong Kong's virtual asset space, capable of offering comprehensive virtual asset trading, investment consulting, and virtual asset fund products to institutional clients, professional investors, and retail users.
HashKey Group firmly believes that the compliance path for Web3 is an inevitable historical trend. The road to compliance requires not only significant economic investment but also the ability to withstand substantial opportunity costs and temptations. However, HashKey Group's persistence thus far demonstrates the company's determination and perseverance in building the compliance infrastructure for the Web3 industry. After six years of persistence, HashKey Group has delivered impressive results in the compliance track.
Among them, HashKey Exchange, as Hong Kong's largest licensed virtual asset exchange[1], has now entered the global Top 10 exchanges. According to CoinGecko's data on October 17, HashKey Exchange ranks 8th, with total trading volume exceeding HKD 538 billion and user assets surpassing HKD 5 billion. The omnibus brokerage service has seen significant growth, with a quarterly growth rate of 1272%, reaching a trading volume of HKD 3.3 billion. Its other licensed exchange, HashKey Global, has achieved a contract position of USD 32 million, surpassing Coinbase International in global contract rankings[2].
In addition to leading global virtual asset trading services, HashKey Group began laying out its primary market, or issuance market, last year. Its tokenization service agency, HashKey Tokenisation, collaborates with leading suppliers of Web3 infrastructure, HashKey Cloud, to tokenize quality assets, creating liquidity for Web2 and Web3 projects at various stages and providing unique assets for compliant exchanges, successfully becoming a bridge connecting the real economy, supporting innovative technology, and aiding in the construction of financial markets. Currently, HashKey Tokenisation has participated in the Hong Kong Monetary Authority's Ensemble project, assisting in the development of Hong Kong's tokenization market.
As the technical support for HashKey Group, HashKey Cloud is committed to providing professional, stable, and secure blockchain services to global clients. Its node validation services cover over 80 mainstream public chains, with an asset management scale of 1.2 million (calculated based on Ethereum). In anticipation of the upcoming application explosion, HashKey Cloud is also laying out new product lines, including Restaking, Bitcoin node validation, Ethereum Layer 2, and STO Infra.
Additionally, one of HashKey's most influential businesses, HashKey Capital, has made multiple investments this year, investing in over 45 new projects, including leading projects like Babylon, Berachain, and Particle Network, further solidifying its leading position in the blockchain and digital asset field. HashKey Capital has also been awarded the Singapore SME500 award, recognizing its outstanding operations and innovative capabilities in the digital asset sector. HashKey OTC has received formal approval from the Monetary Authority of Singapore as a major payment institution, providing clients with regulated digital payment token (DPT) trading services. As a pioneer in financial innovation, HashKey has successfully launched the Bosera HashKey Bitcoin and Ethereum spot ETF on the Hong Kong Stock Exchange, innovatively introducing the world's first "holding" redemption mechanism.
Starting this year, HashKey Group has accurately grasped industry opportunities and rapidly expanded its Web3 native business. The HashKey ecosystem platform token HSK has partnered with over 60 top communities, distributing airdrops to 7.2 million active quality community users in the first phase. The official airdrop channel, the Tap-to-Earn mini-game "Big Golden Dog," has reached 7.5 million game users since its launch.
Notably, HashKey Group has disclosed plans to launch the public test of its L2 public chain, HashKey Chain, in the fourth quarter, with expectations for the mainnet to go live within the year. HashKey Chain will become the most important carrier of the entire HashKey ecosystem's value, creating a compliant and innovation-friendly environment to provide a reliable on-chain ecosystem for traditional financial institutions and quality project parties, offering global users comprehensive Web3 services. Currently, HashKey Chain plans to focus on tracks such as BTCFi, Payfi, Stablecoin, RWA, and DePIN, building a connection between Web2 and Web3 financial infrastructure and a full-stack Web3 solution, which not only reflects HashKey Chain's unique competitive advantages but also showcases HashKey Group's mission and determination as an industry pioneer.
Facing the explosive decade ahead, with the establishment of a new financial market system and the renewal of the traditional financial system, HashKey Group will continue to build an open crypto financial infrastructure using blockchain technology, continuously promoting the integration and progress of Web3 and traditional financial markets, providing trustworthy virtual asset services to one billion users worldwide, making virtual assets accessible.
[1] As of October 17, according to the latest data from Coingecko, HashKey Exchange ranks 8th among global exchanges, being the highest-ranked licensed virtual asset exchange in Hong Kong.
[2] Data source: CoinGecko and CoinMarketCap rankings as of September 6.
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