HashKey Capital Singapore, a subsidiary of the Hong Kong-based HashKey Group, has been granted a capital markets services (CMS) license by the Monetary Authority of Singapore (MAS). This license allows the subsidiary to operate as a regulated provider of digital payment token services under Singapore’s Payment Services Act. HashKey Capital Singapore will now be able to offer services such as brokering, trading, and facilitating the exchange of digital payment tokens.
HashKey Capital Singapore is the latest crypto-related firm to secure a CMS license in Singapore. Just last month, DigiFT, a subsidiary of the financial services company Singapore Exchange (SGX), also received a CMS license from MAS. This signals the growing importance and recognition of the cryptocurrency industry by regulators in Singapore.
Shanghai-based HashKey Group is a leading blockchain technology and digital asset management company. It provides various services in the blockchain and digital asset space, including investment management, trading, and financial services. The company aims to bridge the gap between traditional and digital finance and facilitate the development of the digital asset ecosystem.
The CMS license will enable HashKey Capital Singapore to operate in compliance with Singapore’s regulatory framework and provide its clients with a secure and regulated environment for digital asset transactions. The licensing process ensures that the firm meets the necessary requirements for combating money laundering and terrorism financing. This move is expected to boost confidence in HashKey Capital Singapore’s services and attract more institutional investors to the digital asset market.
With the increasing interest and adoption of cryptocurrencies, regulatory compliance has become crucial for companies operating in the crypto space. HashKey Capital Singapore’s acquisition of a CMS license indicates its commitment to operating within the regulatory framework and providing a safe and reliable platform for digital asset transactions. As more regulatory bodies recognize and embrace cryptocurrencies, it is likely that the industry will continue to grow and evolve, attracting more mainstream investors and users.
