HashKey Know-how Providers, the over-the-counter (OTC) buying and selling division of the HashKey Group, has secured in-principle approval from the Financial Authority of Singapore (MAS) for its software for a Main Fee Establishment license. This license will allow HashKey OTC to offer digital cost token companies.
The corporate, which has been working underneath a short lived exemption from holding a license for the supply of digital cost token companies, presents institutional and accredited traders a spread of companies.
These embrace spot buying and selling for almost 40 digital cost tokens with deep liquidity, on/off ramp companies, massive notional trades, settlement as quick as T+0, and companies by way of voice and on the spot messaging.
This in-principle approval follows the issuance of a Capital Markets Providers license for fund administration to HashKey Capital Singapore, one other subsidiary of the group.
The HashKey Group, additionally recognized for working one of many two licensed cryptocurrency exchanges in Hong Kong, not too long ago closed its Collection A funding spherical in January 2024, elevating almost US$100 million. This pushed the corporate’s valuation to over US$1.2 billion, incomes it a unicorn badge.
“Regulatory compliance has all the time been a prime precedence for us. With this in-principle approval, we’re happy to maneuver a step nearer to our imaginative and prescient of offering a complete and controlled OTC buying and selling answer that helps a variety of digital cost tokens and fiat currencies for our shoppers,”
stated Li Liang, CEO of HashKey OTC.
Featured picture credit score: Edited from Freepik
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