Monthly Market Update (October)

October marked the start of the longest period of US government shutdown in history, with the shutdown continuing into November. Geopolitical tensions also flared up between US and China over rare earth controls, causing gold prices to rise to its highest level on October 17. On the policy front, the Fed has issued its second rate cut of the year and promised to end quantitative tightening in December, although its hawkish tone towards a definitive rate cut in December, kept market euphoria at bay. Market expectations for a rate cut in December has now fallen from 82% to ~67% as of the time of writing with 1/3 expecting rates to stay unchanged. These confluence of factors have led to a divergence in performance between equities and crypto markets.

HashKey Group and Kraken Forge Strategic Partnership to Accelerate Institutional Adoption of Tokenized Assets

November 5, 2025 — HashKey Group ( or “HashKey”), Asia’s leading comprehensive digital asset company, and Kraken, one of the world’s longest-standing, most secure and most liquid crypto platforms globally, today announced a strategic partnership to advance institutional adoption of tokenized assets. Together, both parties will combine their expertise and resources to pursue strategic initiatives […]

HashKey Launches Crypto-as-a-Service (CaaS): An Asia-Based Super Gateway Enabling Traditional Finance to Enter the Crypto World

Hong Kong, Nov. 4, 2025 — HashKey Group (“HashKey”), Asia’s leading comprehensive digital asset group, today announced the official launch of HashKey Crypto-as-a-Service (CaaS), a one-stop platform designed to lower the barriers to Web3 adoption and connect traditional finance with digital finance, enabling institutional clients to enter the digital asset industry quickly, securely, and compliance-friendly. […]

HashKey Exchange and Shanghai Commercial BankJoin Forces in Effort to Launch one of Asia’s First Bank and Licensed Digital Asset ExchangeCo-Branded Visa Card

Mr. Wallace LAM Wing-ted, Chief Executive of Shanghai Commercial Bank (Left) and Dr XIAO Feng, the Executive Director, Chairman and CEO of HashKey Group (Right), join forces in effort to launch one of Asia’s first bank and licensed digital asset exchange co-branded Visa card. Hong Kong, Oct. 31, 2025 — HashKey Exchange, Hong Kong’s largest licensed […]

HashKey Exchange Signs MOU with HATA to Deepen Expansion in Southeast Asia

Hong Kong, Oct. 14, 2025 — HashKey Exchange, Hong Kong’s largest* licensed virtual asset exchange, announced today the signing of a Memorandum of Understanding (MOU) with HATA, Malaysia’s leading licensed digital asset exchange. This partnership marks a significant step in HashKey Exchange’s Southeast Asia strategy and aims to deliver a secure and transparent framework of […]

Monthly Market Update (September)

September marked a significant month for markets as the Federal Reserve cut its rate by 25bps for the first time since December 2024, reaffirming the weakening labour market reports and economic uncertainty. Moving forward, based on Fed dot plot projections, it is likely that the market will see 2 more 25bps rate cuts in October and December this year.

Digital Asset Treasury (DAT) Report, Volume 1: Background and Introduction

Over the past five years, the Digital Asset Treasury (DAT) model has progressed from a niche experiment into a recognized capital market trend, embraced by firms ranging from MicroStrategy in the United States to Metaplanet in Japan, as well as dozens of other publicly listed companies worldwide. DAT companies have not only reshaped the balance sheet of their companies by incorporating digital assets such as Bitcoin and Ethereum but also provided investors with a way to differentiate themselves from their competitors. By incorporating digital assets such as Bitcoin and Ethereum into their balance sheets, DAT companies not only reshape their capital structure but also provide investors with an alternative investment opportunity that is different from ETFs and funds.