HashKey has passed the HKEX hearing, marking a new phase in the compliance of digital assets in Hong Kong. From trading facilitation to on-chain services to asset management, the platform's asset scale of HKD 19.9 billion shows that institutional funds are accelerating their flow into compliant channels. Traditional financial giants like JPMorgan serve as sponsors, further validating the mainstreaming trend of digital assets. Hong Kong's position as Asia's Web3 hub is becoming increasingly solid, and the improvement of the compliance framework will attract more global capital to allocate to digital assets.