Hex Trust Wins an In-principle License in Singapore
Hex Trust, an institutional crypto custodian, has been granted in-principle approval for an MPI license in Singapore in its efforts to expand in the country.
The company announced that it has received preliminary approval from the Monetary Authority of Singapore for the MPI license, which will allow it to provide “digital payment token services” such as custody and OTC trading of DPTs in Singapore.
Co-founder and CEO of Hex Trust, Alessio Quaglini, expressed excitement for the company’s presence in Singapore, a leading hub for fintech innovation with a strong regulatory framework.
This update on compliance in Singapore follows Hex Trust’s acquisition of a full Virtual Asset Service Provider license in Dubai in 2023.
The company first established an office in Singapore in 2020 to expand its capabilities for institutional and corporate clients based in the country.
