Crypto Expansion in Singapore: Hex Trust Gains Regulatory Nod with New License
by aria-crypto.com
March 6, 2025 at 10:41
Crypto Expansion in Singapore: Hex Trust Gains Regulatory Nod with New License
Crypto custodian Hex Trust has successfully obtained a Major Payment Institution license from the Monetary Authority of Singapore, enhancing its ability to offer cross-border money transfers and digital payment token services. Granted on March 1, this license marks a significant step in integrating regulated digital asset custody with comprehensive trading and settlement services. This development is part of Singapore's broader strategy to foster innovation while maintaining strong regulatory oversight in the digital finance sector. Since establishing its presence in Singapore in 2020, Hex Trust has also secured regulatory approvals in multiple jurisdictions including Hong Kong, Dubai, France, and Italy. The firm's enhanced operational scope in Singapore aligns with its global expansion strategy and reflects the region's welcoming stance towards crypto innovations.
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