As a seasoned crypto investor with a keen interest in the regulatory landscape of digital assets, I am elated to hear about Hex Trust’s latest achievement. Having closely followed their journey since their establishment, I have been impressed by their relentless pursuit of regulatory compliance and expansion into strategic markets.
Hex Trust, a well-known digital asset custodian, has received preliminary authorization from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This achievement opens up new opportunities for Hex Trust to grow its business in Singapore, which is an essential fintech hub.
With the obtained MPI license, Hex Trust is authorized to offer “digital token payment services” in Singapore, encompassing the safekeeping and OTC trading of digital payment tokens (DPTs). This milestone signifies a notable advancement for the company as it strives to strengthen its presence in this global financial hub.
Alessio Quaglini, the co-founder and CEO of Hex Trust, showed great excitement about this latest development. He shared, “We’re truly elated to boost our presence in Singapore – an energetic hotspot for fintech advancements, famed for its exceptional regulatory system.”
Having worked in the financial industry for over a decade, I have seen the evolution of digital assets and their growing importance in the global economy. With my extensive experience, I can confidently say that Hex Trust’s recent achievements are truly noteworthy. In the bustling business hub of Dubai, they successfully obtained a full Virtual Asset Service Provider (VASP) license in November 2023. This regulatory milestone is a testament to their commitment and expertise in this emerging field.
Beyond the regulatory achievements mentioned, Hex Trust secured $88 million during its Series B financing in the year 2022. Furthermore, in August 2023, the company obtained approval in France, enabling them to provide various services such as digital asset storage, purchasing, selling, and trading.
Hex Trust stands to bolster its offerings and services in Singapore with this recent approval, strengthening its role as a top contender in the international crypto custody industry.
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2024-07-24 08:36