Hong Kong’s licensed cryptocurrency exchange HashKey has received approval from JPMorgan to open a client money account, marking a significant step in the convergence of traditional banking and regulated digital assets. The exchange announced the decision on Aug. 3, stating that the new account will provide an additional U.S. dollar settlement channel and strengthen the segregation of customer funds.
The JPMorgan account is designed to hold client money separately from HashKey’s operating capital, in line with Hong Kong Securities and Futures Commission (SFC) rules that require foreign-currency client funds to remain in segregated, same-currency accounts. HashKey says it becomes “the first licensed digital asset exchange in Asia” approved for this type of JPMorgan account, though the claim remains unverified by the bank.
The approval follows the June 30 activation of a similar client funds account with DBS Bank, which supports fiat deposits, withdrawals and transaction settlement. Together, the two banking relationships give HashKey separate links to major Asian and U.S. dollar financial infrastructure.
HashKey has not disclosed when the JPMorgan account will become operational for client transactions, which currencies will be available at launch, or whether initial access will be limited to institutional clients. The exchange’s parent, HashKey Holdings, said the move would bring it closer to international banking systems.
The exchange, operated by Hash Blockchain Limited, has been licensed by the SFC since November 2022 and listed in Hong Kong in December 2025. JPMorgan was one of the joint sponsors of its $206 million IPO. The account approval does not expand HashKey’s crypto licence or allow it to serve restricted U.S. customers; its stated purpose is to add a regulated banking route for fiat transactions on the platform.
