HaskKey OTC Obtains In-Principle Payments License in Singapore

HashKey Know-how Providers, the over-the-counter (OTC) arm of HashKey Group, has secured in-principle approval from the Financial Authority of Singapore (MAS).

HashKey OTC CEO, Li Liang, stated that “regulatory compliance has all the time been a high precedence for us. With this in-principle approval, we’re happy to maneuver a step nearer to our imaginative and prescient of offering a complete and controlled OTC buying and selling resolution that helps a variety of digital cost tokens and fiat currencies for our shoppers.”

Beforehand working below a licensing exemption in Singapore, HashKey OTC at present caters to accredited traders and monetary establishments. Their companies embody spot buying and selling for 40 digital property with liquidity help, fiat-to-crypto on-ramp companies, and facilitating large-scale trades. Notably, HashKey OTC additionally acquired a Capital Markets Providers license from the MAS in December 2023.

The MPI license grants broader authorization in comparison with the earlier exemption. Notably, it removes transaction limits beforehand set for particular cost companies, providing higher flexibility for HashKey OTC. This approval additional reinforces HashKey’s rising presence within the digital asset area, following their institution as one of many two licensed cryptocurrency exchanges in Hong Kong and their current achievement of unicorn standing by way of a $100 million Collection A funding spherical.

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