Hex Trust Granted Major Payment Institution License By Monetary Authority Of Singapore
In Brief
Hex Trust has received a Major Payment Institution License from the Monetary Authority of Singapore, enabling it to offer integrated custody, OTC trading, settlement, and fiat on/off ramp services.
Digital asset financial institution, Hex Trust announced that it has been granted a Major Payment Institution (MPI) License by the Monetary Authority of Singapore (MAS). The license, issued on March 1st, allows Hex Trust to offer regulated cross-border money transfer services and Digital Payment Token (DPT) services. With this new authorization, Hex Trust is now able to provide a fully-integrated solution that includes custody, over-the-counter (OTC) trading, settlement services, as well as fiat on and off ramps.
“Securing the MPI license is a testament to our team’s dedication to working closely with the MAS to meet its regulatory requirements,” said Calvin Shen, Group Chief Commercial Officer & CEO of Hex Technologies, in a written statement. “With a well-established regulatory framework and commitment to innovation, Singapore continues to drive institutional adoption of digital assets. As a leading provider of digital asset services in Asia, Singapore is a key market for Hex Trust, and this milestone enables us to further enhance our services, providing institutional clients with secure and compliant digital asset solutions,” he added.
Hex Trust obtained In-Principle Approval (IPA) for the MPI license in July 2024. Receiving the official license from the Monetary Authority of Singapore (MAS) further strengthens Hex Trust’s dedication to providing fully compliant digital asset services for accredited and institutional clients. As a leading global fintech hub with strict regulatory standards, Singapore plays a key role in advancing digital finance innovation. This license represents an important milestone in expanding access to Hex Trust’s regulated digital asset solutions.
Hex Trust: Bridging Traditional Finance With Digital Asset Economy
Founded in 2018, Hex Trust provides regulated institutional services in digital asset custody, staking, and markets for builders, investors, and service providers. The company offers a comprehensive, secure, and regulated suite of services built on its proprietary, fully integrated infrastructure.
Hex Trust has been operating in Singapore since 2020, with a dedicated team and office focused on serving accredited and institutional clients. The MPI license represents a major milestone in the company’s regulatory journey, highlighting its proactive approach to engaging with regulators. With licenses and registrations in key global financial hubs, including Hong Kong, Dubai, France, and Italy, Hex Trust continues to facilitate secure market access for digital asset investments.
“Hex Trust’s expansion across global financial hubs is underpinned by our commitment to compliance, risk management, and institutional-grade digital asset services,” said Alessio Quaglini, Co-Founder and Group CEO of Hex Trust, in a written statement. “Securing the full MPI license in Singapore reinforces our position as a global leader and trusted partner, bridging traditional finance with the digital asset economy,” he added.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
