Institutional investors in Hong Kong can now invest in XRP, as HashKey has listed the digital asset for them.
Hong Kong-based fintech firm HashKey Group has made its move into the XRP market, listing the digital asset for high-profile investors in Asia. In an announcement on May 30, the company unveiled the live operation of the XRP/USD spot market, which saw a modest $4,000 in trading volume within the first hour.
With a license from the Hong Kong Securities and Futures Commission (SFC), HashKey Group focuses on serving institutional investors across the region. This latest development follows the United States' decision to include XRP in its strategic crypto reserve, signaling a growing significance for the digital asset.
HashKey has chosen to list XRP due to its performance in late 2024, a period marked as the "first altcoin season" of this crypto cycle. This move builds on HashKey's partnership with Ripple, the creator and issuer of XRP, with both parties coming together to launch Asia's first XRP tracker fund in April 2025.
At the time of writing, XRP is trading at $2.19, down 4.3% in the past 24 hours amid broader bears in the crypto market. Despite this dip, HashKey's listing of XRP underlines a belief in its potential, particularly for large-scale, regulated investments in Asia.
The decision by HashKey Group places XRP in a more prominent position for big investors seeking safe and regulated methods to participate in the crypto market. Furthermore, it underscores XRP's growing relevance in the digital money ecosystem, making it an increasingly attractive option for cross-border transactions and major investment portfolios.
Notably, the move coincides with XRP's inclusion in the U.S. strategic crypto reserve, suggesting that influential financial entities recognize the digital asset's role in the global cryptocurrency landscape. These events underscore XRP's rising importance for institutional investments in Asia, reflecting a broader trend towards regulated, large-scale digital asset investments.
Technology's influence in finance is evident as HashKey Group, having partnered with Ripple, lists XRP for investing, reinforcing XRP's increasing significance in the digital money ecosystem. This move by the Hong Kong-based fintech firm signifies a growing interest among big investors in Asia towards XRP, a digital asset deemed as an attractive option for cross-border transactions and major investment portfolios.
