Hex Trust has received in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This approval allows the company to legally offer crypto custody and over-the-counter trading services in Singapore.
This milestone confirms Hex Trust’s compliance with regulatory standards, highlighting its commitment to operational excellence. Calvin Shen, Managing Director of Hex Trust, emphasized that this approval strengthens their collaboration with regulatory authorities and enhances their capacity to protect and optimize digital assets for institutional clients.
This approval positions Hex Trust as a leading player in Asia’s digital asset market, aligning with a broader trend of regulatory acceptance and institutional adoption in the crypto space. The move is poised to offer enhanced security and optimized services for institutional clients, setting a new standard in digital asset management.
Overall, securing this license is a strategic step for Hex Trust, ensuring long-term growth and regulatory clarity in the evolving landscape of cryptocurrency regulations.
