Hex Trust Secures Singapore Custody License

Hex Trust Secures Singapore Custody License

September 2, 2021

Hex Trust, Asia’s leading digital asset custodian, today announced it has secured a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS), allowing the company to provide custodial services regulated under Singapore’s Securities and Futures Act.

As Singapore is fast becoming a strategic digital assets hub in the region, the Capital Markets Services Licence granted by MAS underpins Hex Trust’s position in Asia as the institutional gateway to digital assets, enabling banks and financial institutions to seamlessly integrate digital assets into their business operations in a highly secure, scalable and compliant manner.

This achievement marks a strategic milestone in line with our mission to secure full compliance and regulatory recognition for our bank-grade digital assets custody services, uniquely positioning us at the forefront of this growing sector of Singapore’s financial services industry. We are fully committed to expand in this market and to serve as strategic partners to financial institutions and digital asset natives, providing the highest level of security and compliance for digital assets as adoption continues to increase rapidly.” — Alessio Quaglini, CEO and Co-founder of Hex Trust.

Hex Trust is committed to protecting investor interests and the granting of this licence demonstrates Hex Trust’s leading role in implementing robust compliance standards and working closely with regulatory bodies. The increased regulatory oversight from MAS indicates that Singapore is paving the way for constructive legal frameworks that will provide further clarity for the digital asset industry thus instilling investor confidence and investor protection.” — Colin Brooks, Chairman, Hex Trust Advisory Board.

Following the granting of this licence, Calvin Shen, Managing Director of Hex Trust, will be relocating to Singapore to lead the business expansion of the new branch office. The organisation is actively scaling operations, hiring key talents across Hong Kong and Singapore, and importantly, enhancing its licensing framework to meet Asia’s rising institutional demand for digital assets. Hex Trust recently won the ‘Best Custody Specialist, Digital Assets’ award in ‘The Asset Triple A Sustainable Investing Awards for Institutional Investor, ETF, and Asset Servicing Providers’.

Hex Trust has one of the industry’s broadest ranges of digital asset custody support including cryptocurrencies, security tokens and non-fungible tokens (NFTs). Hex Trust has over 100 institutional clients including banks, financial institutions, exchanges, investment funds and corporations across Asia and Europe. Earlier this month, Hex Trust announced their partnership with Union Bank of the Philippines who appointed them as its digital asset custodian.

In the Media

Bloomberg: Crypto Custodian Hex Trust Secures Key Singapore License

CoinDesk: Hex Trust Secures Custody License From Singapore’s Monetary Authority

Blockchain.news: Crypto Assets Custodian Hex Trust Acquires Key License from MAS

Asset Servicing Times: Hex Trust receives custody licence in Singapore

Fintech News Singapore: Hong Kong’s Hex Trust Secures Digital Custody License From MAS

FiNews Asia: Singapore Issues License to Crypto Custodian Hex Trust

CryptoPress: Crypto Assets Custodian Hex Trust Acquires Key License from MAS

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