Hex Trust, a platform for cryptocurrency custody and trading, has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). The license was granted on March 1, allowing Hex Trust to offer cross-border money transfers and digital payment token services in accordance with Singapore’s regulatory guidelines.

Key Points:

• Hex Trust has received a license from Singapore’s MAS.
• This license permits cross-border transactions and digital payment token services.
• The company can now combine its custody services with trading and settlement, managing fiat in and out operations effectively.

The approval comes after Hex Trust’s initial clearance from MAS back in July 2024. With the full license, Hex Trust is well-positioned to enhance digital asset services in Singapore, aligning with regulatory measures to foster growth in the fintech sector. Other companies, like Robinhood, have also shown interest in launching their services in Singapore this year.

Hex Trust has been operational in Singapore since 2020 and holds regulatory approvals in regions such as Hong Kong, Dubai, France, and Italy.