On August 28, as Hong Kong licensed exchange HashKey Exchange celebrates its second anniversary of compliant operations, its founder and chairman, Xiao Feng, announced through an internal letter to all employees the formal establishment of "828 HashDay" on every August 28. The letter revealed that the platform's cumulative trading volume has surpassed HKD 12 trillion, with managed assets exceeding HKD 19 billion. In the letter, Xiao Feng emphasized that HashKey's mission is not only to become a "Web3 financial bridge" but also to lead the infrastructure of the new financial world of the future. Below is the original text of the letter:

Dear colleagues,

Today is a special day. Two years ago today, HashKey Exchange set sail in Hong Kong, officially embarking on a new journey of compliant digital asset trading. Starting this year, we solemnly establish this day as "828 HashDay"—this not only marks a significant milestone for HashKey's business but also represents a key step taken by HashKey Group in the global compliance process.

We hope that "828 HashDay" will be a shared commemoration for HashKeers (HashKey people) and will develop into a landmark node for the global Web3 industry focusing on compliance development and infrastructure construction, continuously promoting the building of a trusted digital future together with our ecosystem partners.

In the past two years, the entire industry has undergone profound changes. We have seen the blockchain industry transition from the wild growth of the "digital native era" to the "digital twin era" anchored by compliance. The United States and Hong Kong have successively completed stablecoin legislation, marking the first time stablecoins have moved from the regulatory gray area into the mainstream financial system, no longer just a "social experiment" in the market, but gradually becoming the financial infrastructure for global cross-border payments and settlements. At the same time, real-world assets (RWA) have moved from the conceptual stage to substantial issuance, whether it be money market funds, bonds, or securitized products, gradually achieving compliance on-chain, thus redefining the liquidity and transparency of financial markets and sparking market enthusiasm… All of this tells us that the "crypto world" is no longer isolated; it is gradually connecting to the real global financial system at its own pace.

Alongside the industry's progress, HashKey has also been deeply involved, especially in recent years. Due to our strategic layout, HashKey is often labeled as a "licensed exchange," "Hong Kong's compliance leader," and "Web3 financial bridge," but our true mission goes far beyond that. HashKey's mission—making digital assets accessible; HashKey's vision—providing trusted digital asset services to one billion users globally. Guided by this mission and vision, our goal is not only to become a bridge between Web3 and traditional finance but also to strive to be a leader and major contributor to the infrastructure construction of the new financial world of the future.

In the past year, the market has also responded positively to HashKey's efforts. HashKey Exchange's cumulative trading volume has surpassed HKD 12 trillion, with managed assets exceeding HKD 19 billion; the Omnibus account covers 90% of licensed brokers in Hong Kong, and over-the-counter trading volume has repeatedly hit new highs. These achievements bring us comfort and make us feel the responsibility of trust: compliance does not mean conservatism; trust is the greatest force driving growth.

At the same time, the group's various businesses are continuously converging:

• HashKey Capital has invested in over 600 projects, accompanying industry innovation and growth;

• HashKey Tokenisation has successfully promoted asset tokenization for several leading financial institutions, including assisting Bosera International in launching the world's first tokenized money market ETF and participating in the construction of Hong Kong's Web3 ecosystem standards;

• HashKey Chain has become an institution-level compliant L2 base layer, selected by GF Securities as the issuance chain for tokenized securities, becoming the preferred public chain and infrastructure for traditional financial RWA;

• HashKey Cloud has launched the ETF Staking Pro service, supporting Asia's first Ethereum spot ETF and becoming the first provider to support staking functionality upon launch, while also supporting ETH treasury staking. Currently, HashKey Cloud's total staked asset scale is approximately USD 4 billion;

• HashKey OTC, as an institutional entry and exit channel and liquidity provider, is one of the best-priced institutions in the market, experiencing explosive growth.

Together, they form a prototype of an "on-chain financial operating system" and lay a solid first step for the future capability to serve one billion users.

Since its establishment in 2018, HashKey has relied not on the wisdom of any one person but on the dedication and belief of every colleague; you are the true cornerstone of HashKey. Over the past eight years, through three cycles of bull and bear markets, HashKey has steadfastly chosen compliance. Attracted by this mission and vision, a large number of talents from traditional finance, Web3, and the internet have joined HashKey, becoming HashKeers, contributing their professional strength to the compliant track of Web3. In this process, we have faced many temptations, doubts, and challenges externally, and we have also taken many detours and encountered many pitfalls internally. I know many colleagues have borne considerable pressure and grievances, but it is precisely these challenges and pressures that have led to HashKey's current phased achievements. We can fight hard battles and win victories!

Here, I want to express my gratitude to every employee on behalf of HashKey, and of course, the company will also provide substantial incentives to reward everyone!

Looking to the future, as market changes accelerate, the development of enterprises must rely not only on institutional management but also on a team driven by faith and mission, so that we can perceive and respond instantly like a nervous system. After a long period of consensus, I am also very excited to announce our own cultural values at HashKey: Hi5. I believe that what we choose is not just a culture but a vitality and life aspiration oriented towards the future. Our corporate cultural values will support HashKey in going further.

Finally, I want to emphasize again that the compliant track of Web3 is not an honor exclusive to our company but a position bestowed upon HashKey by the times—because we have always shouldered our mission and insisted on walking this difficult but correct path. I hope every HashKeer can focus on our goals and continue to build and strengthen our advantages.

This industry is still too new and too complex, and many questions do not have complete answers. Let us remain humble, maintain a cup-empty mindset to continue learning, and be brave in innovation, ultimately achieving our own growth. I believe that we HashKeers will eventually explore the optimal path of compliance, technology, and industry integration with unyielding resilience, ushering in a win-win situation for HashKey and the industry. I hope "828 HashDay" can spur us to deliver satisfactory answers to ourselves and the industry on this day every year.

Xiao Feng

Founder, Chairman, and CEO of HashKey Group

August 28, 2025

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