HashKey Holdings Limited has completed a $40 million investment in crypto derivatives platform SignalPlus, marking a significant bet on the growth of institutional-focused digital asset trading infrastructure.
Deal structure and strategic partnership
The capital was deployed through a fund managed by HashKey’s asset management arm, HashKey Capital. Of the $40 million total, $20 million came in cash directly from HashKey Holdings, with the remainder provided via the fund.
The investment forms part of a broader strategic partnership between HashKey and SignalPlus, aimed at expanding their footprint in crypto derivatives and enhancing institutional-grade services.
HashKey Capital previously led the seed round in SignalPlus and joined subsequent funding stages, backing the platform’s early technology build-out. The latest funding round strengthens that relationship and extends collaboration on both technical and product development.
Focus on institutional-grade derivatives infrastructure
SignalPlus provides institutional-grade trading infrastructure with a focus on:
- options
- automated market-making
- structured products
The platform is integrated into major crypto options venues and has built a strong market share across Asia. Earlier estimates have placed its share of total crypto options volumes at between 15% and 20% in previous years.
Derivatives currently account for roughly 73% of total crypto trading volume as of early 2026, underscoring the heightened demand for complex instruments beyond spot trading.
HashKey’s strategy and market positioning
HashKey Holdings, listed in Hong Kong under stock code 3887.HK, operates as a full-scale digital asset firm, with businesses in:
- financial infrastructure
- technology solutions
- investment management
Its licensed platforms provide trading facilitation, on-chain services, and asset management to clients around the world.
Chairman and chief executive officer Xiao said the partnership with SignalPlus is designed to support deeper institutional participation in crypto derivatives. He pointed to growing global demand for compliant, resilient trading infrastructure that aligns with evolving digital asset priorities.
Joint plans and global expansion goals
Under the strategic partnership, HashKey and SignalPlus plan to:
- combine expertise in digital asset services and trading technology
- broaden derivatives offerings aimed at global institutions
- leverage regulatory positioning in key markets to support expansion
The two firms are targeting growth in the derivatives segment by pairing SignalPlus’s technology stack with HashKey’s regulated platforms and distribution network.
Regulatory backdrop in Asia
The development comes as regulators in major Asian financial centers establish clearer rules for digital assets.
In Hong Kong, the Securities and Futures Commission now permits secondary trading of tokenized investment products for retail traders on licensed platforms, signaling broader acceptance of tokenized instruments within the traditional regulatory perimeter.
Singapore and other regional hubs are also advancing digital asset frameworks, creating a more defined operating environment for large-scale participants.
Tokenization and structural market shifts
The move by HashKey and SignalPlus fits into a wider shift toward tokenization and institutional-grade infrastructure:
- tokenized US Treasuries have grown into a multi-billion-dollar segment
- by May 2026, the value of distributed tokenized assets was around $26.7 billion
These figures point to growing integration between traditional finance and blockchain-based markets.
Platforms specializing in options and structured products, such as SignalPlus, are expected to play a key role as more professional money managers seek tools to hedge risk, manage exposures and express market views through derivatives rather than simple spot positions.
Implications for institutional participation
The capital injection highlights how established, regulated entities are positioning for a substantial rise in institutional activity in the more complex areas of digital assets.
As advanced, compliant trading infrastructure becomes more available, large capital managers are moving from passive observation to more active, structured participation. For traders, this shift may bring:
- deeper liquidity in derivatives markets
- more sophisticated products and strategies
- a stronger link between traditional capital markets and crypto instruments
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