HashKey Capital Singapore, an investment arm of Hong Kong-based HashKey Group, said on Friday that it received an in-principle approval for the Capital Markets Services license from the Monetary Authority of Singapore (MAS).
See related article: First Digital Trust says HK, Singapore can join hands on crypto initiatives
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When a full license is granted, it will allow HashKey Capital Singapore to offer services to institutional and accredited investors in the Lion City as a licensed fund manager, the company said in a statement. The move comes as Hong Kong, Singapore’s traditional rival in Asia for financial services, announced this week a series of policies to attract crypto firms in hopes to re-position itself as a digital assets hub.MAS, Singapore’s central bank, has recently been accelerating license approvals for crypto service providers.“Singapore is quickly becoming the region’s epicenter of Web3 innovation. Being recognized by the MAS as a licensed fund management company will allow HashKey Capital Singapore to contribute to and support the local Web3 community,” Deng Chao, CEO, HashKey Capital Singapore, said in the statement. HashKey Capital said it has invested in over 500 global projects that include Web 3.0 infrastructure, metaverse and non-fungible tokens (NFTs). See related article: Singapore still aims to be a crypto hub, minus speculative trading
