Hex Trust Receives Major Payment Institution License from Singapore’s MAS
Hex Trust has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). The license, effective March 1, enables the firm to offer cross-border money transfers and digital payment token services in compliance with Singapore's regulations.
- The approval follows an in-principle clearance from MAS in July 2024.
- Hex Trust can now combine regulated digital asset custody with trading and settlement services, including fiat on-ramps and off-ramps.
- This development is part of Singapore's initiative to balance innovation in digital finance with regulatory oversight.
- Hex Trust has been operating in Singapore since 2020 and holds approvals in Hong Kong, Dubai, France, and Italy.