HashKey Capital Receives Capital Markets Services License from Monetary Authority of Singapore

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Published: December 20, 2023 at 7:50 am Updated: December 20, 2023 at 7:50 am

Edited and fact-checked:
December 20, 2023 at 7:50 am

In Brief

HashKey Capital obtained a Capital Markets Services (CMS) license, to provide support for blockchain-related investments in Singapore.

Hong Kong-based digital asset group HashKey Capital obtained a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS). The newly obtained license grants HashKey Capital Singapore the status of a licensed fund management company, allowing it to extend support for blockchain-related investments in Singapore.

As the newly licensed fund management company (LFMC), HashKey Capital Singapore has outlined plans to introduce a regulated fund and provide capital market products to the local market. This initiative aims to connect global capital with blockchain experts, fostering progress within the regional blockchain community.

”Singapore’s innovative spirit aligns with our mission, and we’re excited to propel blockchain-related capital markets products and investments further into the mainstream, offering new possibilities for institutional and accredited investors”

said Deng Chao, chief executive officer of HashKey Capital Singapore and Head of HashKey Singapore.

HashKey Capital initiated the license application process with the Monetary Authority of Singapore (MAS) in late 2021.

The broader scope of HashKey Singapore encompasses venture capital investment, fund management, and over-the-counter trading of digital assets. Over the years, the company has managed assets exceeding $1 billion, with investments spanning more than 500 projects.

In a significant move this year, HashKey Capital concluded its third funding round, to invest in Web3 and blockchain projects.

The Growth of CMS Licensing in Singapore

Singapore has been enhancing its scrutiny of the cryptocurrency industry within the framework of its various licensing regimes. Companies seeking to offer services regulated under the country’s Securities and Futures Act are required to acquire a CMS license from the Monetary Authority of Singapore.

In the recent development, cryptocurrency exchange DigiFT has also received a CMS license from the regulator. This license authorizes DigiFT to engage in the regulated activity of dealing in capital markets products categorized as securities or units in a collective investment scheme in Singapore, primarily by facilitating the issuance of security tokens.

Last year, SBI Digital Markets, a subsidiary of Japan’s financial services giant SBI Holdings, obtained a CMS license. The license permits SBI Digital Markets to offer securities and futures trading services in Singapore.

As HashKey Capital secures a CMS license, joining the ranks of regulated entities, the move underscores Singapore’s commitment to nurturing responsible investments, aligning with goals of fostering a secure and transparent landscape for cryptocurrency and blockchain initiatives.

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About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and engagement with scientific writing.

Alisa Davidson