HashKey wins JPMorgan approval for client funds account

HashKey Exchange said on Aug. 3 that JPMorgan Chase approved its application to open a client funds account, giving the Hong Kong licensed crypto platform another banking route for customer money segregation and U.S. dollar settlement.

Parent company HashKey Holdings said the approval would connect the exchange more closely with international banking infrastructure. The announcement did not disclose the account’s launch date, expected balances, supported payment routes or commercial terms.

HashKey JPMorgan account adds a new dollar channel

HashKey said the account would strengthen the stability and transparency of its U.S. dollar funding channels. It also expects the arrangement to support settlement for institutional clients and investors using its regulated exchange.

The company described HashKey Exchange as “the first” licensed digital asset exchange in Asia approved to open this type of JPMorgan account. That remains a company claim. The announcement confirms approval to open an account, rather than the start of live customer deposits and withdrawals.

In addition, the account is designed to hold customer money separately from HashKey’s operating funds. Hong Kong’s Securities and Futures Commission requires licensed virtual asset platforms to keep foreign currency client money in segregated accounts denominated in the same currency.

Hash Blockchain Limited, which operates HashKey Exchange, appears on the SFC’s list of licensed virtual asset trading platforms. The regulator granted its licence in November 2022. The SFC also states that licensing does not guarantee a platform’s performance or creditworthiness.

Moreover, the JPMorgan approval follows HashKey’s June 30 activation of a customer funds account with DBS Bank. The DBS arrangement supports fiat deposits, withdrawals and transaction settlement. It also includes same name virtual accounts for automated fund identification and reconciliation.

DBS was Singapore’s largest bank, with assets of about $697.77 billion at the end of 2025, according to S&P Global Market Intelligence. JPMorgan retained fifth place in S&P’s worldwide ranking. HashKey’s use of both banks gives it separate links to major Asian and U.S. dollar banking infrastructure.

Banking access supports HashKey’s institutional expansion

HashKey has expanded its regulated platform and traditional finance connections since listing in Hong Kong in December 2025. Its offering raised gross proceeds of HK$1.607 billion, about $206 million, before listing costs. JPMorgan was among the joint sponsors of the offering.

As crypto.news previously reported, HashKey opened the IPO with a target of up to $215 million before final pricing. In related coverage, JPMorgan and HashKey later joined a Hong Kong Monetary Authority group studying rules and infrastructure for tokenized bonds.

HashKey also merged the separate HashKey Exchange and HashKey Global applications into one portal in July. The company said jurisdictional controls still separate users and products across Hong Kong, Singapore, Dubai and Bermuda.

The JPMorgan account does not expand HashKey’s crypto licence or allow the exchange to serve restricted U.S. customers. Its stated purpose is to add another regulated banking channel for fiat funds connected to the exchange.

The next verified milestone will be account activation. HashKey has not said when customers can use the JPMorgan route, which currencies will be available at launch or whether access will begin with institutional clients before reaching other eligible users.