HashKey OTC Secures Major Payment Institution Licence from MAS

Singapore,2 August, 2024 – HashKey Technology Services Pte. Ltd. ("HashKey OTC"), the over-the-counter (“OTC”) trading arm of HashKey Group, has been granted the Major Payment Institution licence from the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019 to provide digital payment token (“DPT”) services.

With the grant of the licence, HashKey OTC now offers regulated DPT services. This significant achievement solidifies HashKey OTC's position as a leading provider of regulated OTC trading in respect of DPT in Singapore. Following the in-principle approval in late-February this year, the licence approval underscores HashKey OTC's commitment to regulatory compliance and operational excellence.

"With the Major Payment Institution licence granted by MAS, HashKey OTC is now poised to offer comprehensive and regulated OTC trading solutions for DPT," said Li Liang, CEO of HashKey OTC.

HashKey OTC had previously been operating under an exemption from holding a licence under the Payment Services Act 2019 for the provision of DPT services, and it is able to support spot trading, on/off ramp trades, and large notional trades with swift settlement options.

With the Major Payment Institution licence secured, HashKey OTC looks forward to enhancing its offerings and contributing to the vibrant digital asset ecosystem.

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About HashKey OTC

At HashKey OTC, the over-the-counter (OTC) 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 regulatorily-compliant digital asset trading services to accredited and institutional investors.