HashKey Exchange approved by JPMorgan to open client money account

HashKey Exchange, the largest licensed digital asset platform in Hong Kong, has reportedly received approval from JPMorgan to open a client money account. The move marks another step in the deepening relationship between one of Wall Street’s biggest banks and the crypto exchange that controls the lion’s share of Hong Kong’s regulated digital asset market. What a client money account actually means A client money account is a segregated bank account where an exchange holds customer funds separately from its own operating capital. If HashKey ever ran into financial trouble, customer deposits sitting in a JPMorgan client money account would be ring-fenced and protected. This is exactly the kind of safeguard that was conspicuously absent in the FTX debacle, where customer funds and company money were mixed together. HashKey has been methodically building out its banking infrastructure over the past year. The exchange activated a customer funds account with DBS Bank on June 30, 2026, designed to streamline fiat deposit and withdrawal processes. Deutsche Bank had previously facilitated both operational and client-money accounts for the platform. JPMorgan’s approval adds yet another tier-...