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HashKey wins JPMorgan approval for client money account

The Hong Kong licensed exchange said the JPMorgan account will enable segregated client fund settlement through JPMorgan’s banking infrastructure.

Reported · Written up by our desk · Market Structure

HashKey Exchange said it received approval from JPMorgan Chase to open a client money account, a step intended to support client fund segregation and settlement via JPMorgan’s banking infrastructure, according to HashKey Holdings.

The approval comes weeks after HashKey launched customer fund accounts with DBS Bank. HashKey activated a customer funds account with DBS on June 30, enabling fiat deposits, withdrawals, and settlement services.

HashKey Holdings also said it combined the previously separate HashKey Exchange and HashKey Global applications into a single portal a week earlier.

HashKey Holdings, which listed in Hong Kong in December after raising $206 million in an oversubscribed initial public offering, cited S&P Global Market Intelligence rankings to describe DBS Group as Singapore’s largest bank by assets and JPMorgan as the world’s fifth largest, with about $4.4 trillion in assets.

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