HashKey Group’s over-the-counter trading division, HashKey Technology Services (HashKey OTC), has received a Major Clearing Institution license from the Monetary Authority of Singapore (MAS).
The license will enable HashKey OTC to offer digital payment token (DPT) services in Singapore.
This approval is Approved in principle I received it in late February.
Previously, HashKey OTC operated under an exemption from holding a licence under the Payment Services Act 2019.
HashKey OTC supports large-scale notional trading with spot trading, on/off-ramp trading, and fast settlement options.
“With the receipt of our Major Clearing Institution license from MAS, HashKey OTC is well positioned to provide a comprehensive, regulated OTC trading solution for DPTs.”
Li Liang, CEO of HashKey OTC, said:
HashKey Group, which operates a licensed cryptocurrency exchange in Hong Kong, recently Completed Series A funding round The company plans to raise approximately $100 million in January 2024.
This has valued the company at more than $1.2 billion, making it a unicorn.
