HashKey OTC receives in-principle approval from the Monetary Authority of Singapore for its Major Payment Institution licence application
- HashKey Group
- Feb 28, 2024
- 2 min read
The in-principle approval brings HashKey OTC a step closer to providing regulated digital payment token services in Singapore
Singapore, February 28, 2024 – HashKey Technology Services Pte. Ltd. (“Hashkey OTC”), the over-the-counter trading arm of HashKey Group, has received in-principle approval from the Monetary Authority of Singapore for its Major Payment Institution licence application to provide digital payment token services.
The in-principle approval from one of the world’s most established regulators is a massive accomplishment, says Li Liang, CEO of HashKey OTC:
“Regulatory compliance has always been a top priority for us. With this in-principle approval, we’re pleased to move a step closer to our vision of providing a comprehensive and regulated OTC trading solution that supports a wide range of digital payment tokens and fiat currencies for our clients.”
HashKey OTC currently operates under an exemption from holding a licence for the provision of digital payment token services for a specified period, and provides institutional and accredited investors services including spot trading of close to 40 digital payment tokens with deep liquidity, on/off ramp services, large notional trades, settlement as fast as T+0, and services via voice and instant messaging.
The in-principle approval of HashKey OTC’s Major Payment Institution licence application follows the issuance of the Capital Markets Services licence for fund management by the Monetary Authority of Singapore to HashKey Capital Singapore Pte. Ltd. in December 2023.
About HashKey OTC
At HashKey OTC, the over-the-counter trading arm of HashKey Group, we serve as your trusted partner in the world of digital assets. With a strong legacy and reputation, we focus on providing regulatory-compliant digital asset trading services to accredited and institutional investors.
For further information, please email: askotc@hashkey.com
For media inquiries, please email: nick@angle42.co
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