Hex Trust has received a major payment agency license from the Singapore Monetary Authority, allowing it to provide cross-border remittance services.
Cryptocurrency Custodian Hex Technologies PTE. Ltd. said on Thursday, March 6, it received a license from Singapore’s financial authorities to allow it to provide “fully integrated solutions” such as custody, commercial transactions and settlements including fiat-on and off-ramp.
In a press release shared with Crypto.news, Calvin Shen, CEO of Hex Technologies Pte. Ltd. added that Singapore remains a “significant market” for HEX Trust, and the milestone allows custodians to double their institutional offering to clients.
“Securing an MPI license is a testament to the team’s commitment to working closely with MAS to meet regulatory requirements. With its established regulatory framework and commitment to innovation, Singapore continues to promote the institutional adoption of digital assets.”
Calvin Shen
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In the case of HEX Trust, the latest license marks another regulatory achievement in Singapore, with custodians previously secured approval. In 2021, I was licensed to Capital Markets Services and was able to provide management services regulated under the Singapore Securities and Futures Act. Outside of Singapore, the Hex Trust also holds licenses and registrations in Hong Kong, Dubai, France and Italy.
In February, Hex Trust secured a strategic funding round led by Morgan Creek Digital, with participation from global investors, including Injective, bringing total funding to more than $100 million. The investment has been marked as a “vital milestone,” Hex Trust announced on its blog that it is ready for the expected Series C Raise in the second half of 2025.
read more: Hex Trust buys part-time trades: Will institutional investors bite?
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