Morgan Creek-backed crypto custodian Hex Trust secures Singapore’s license for OTC push

Hex Trust received a major license from the Singapore monetary authority institution, allowing it to provide cross -border money transfer services.

Cryptocurrency guardian Hex PTE Technologies. Ltd. said Thursday, March 6, he received a license from the monetary authority of Singapore which would allow him to offer a “fully integrated solution”, including the custody, the free trading and the regulations, including the Fiat on and out of the ramps.

In a press release shared with Crypto.News, Calvin Shen, CEO of Hex Technologies PTE. Ltd., said that Singapore remains a “key market” for Hex Trust, adding that the milestone now allows the guard to double its offers for institutional customers.

“The security of the MPI license testifies to the dedication of our team to work closely with the MAS to meet its regulatory requirements. With a well -established regulatory framework and a commitment to innovation, Singapore continues to stimulate the institutional adoption of digital assets. »»

Calvin Shen

For Hex Trust, the last license marks another regulatory achievement in Singaporewhere the goalkeeper previously obtained approvals. In 2021, he got The license in capital market services, allowing it to provide regulated childcare services under Securities and Futures Acts of Singapore. Apart from Singapore, Hex Trust also has licenses and registrations in Hong Kong, Dubai, France and Italy.

In February, Hex Trust guaranteed A strategic financing tour led by Morgan Creek Digital with the participation of global investors, notably injective, relating to total funding to more than $ 100 million. This investment marked a “central step”, said Hex Trust in a blog announcement, while it is preparing for its increase in the C series scheduled later in 2025.