Reflecting Singapore’s progressive stance on digital assets, the Monetary Authority of Singapore (MAS) has awarded Hashkey Capital Singapore a full Capital Markets Services license, enabling the firm to enhance its fund management services and contribute significantly to the burgeoning blockchain community.
Hashkey Capital Singapore Elevates Its Market Presence with New CMS License from MAS
In yet another positive move for the digital assets sector in Singapore, Hashkey Capital Singapore, a subsidiary of Hong Kong-based digital asset group Hashkey, has been granted a full Capital Markets Services (CMS) license by the Monetary Authority of Singapore (MAS). This approval marks a crucial step for the firm in expanding its regulated fund management services within the region.
We’ve secured the Capital Markets Services (CMS) license from @MAS_sg!
As a licensed fund management company (LFMC), this empowers us to provide regulated fund management services in the realm of capital markets products.
@techinasia
https://t.co/WIQQ31T99J pic.twitter.com/oFrd0QbNxI
— HashKey Capital (@HashKey_Capital) December 19, 2023
Hashkey Capital Singapore, which applied for the license in late 2021, aims to leverage this opportunity to launch regulated funds and offer capital market products to local customers. The CMS license allows the firm to actively contribute to and foster progress within Singapore’s burgeoning blockchain community.
Mr. Deng Chao, CEO of Hashey Capital Singapore and Head of Hashkey Singapore, commented on the achievement, stating, “Securing the CMS license from the MAS marks a defining moment for Hashkey Capital and the vibrant Web3 landscape in Singapore. As a licensed fund management company, we are committed to contributing to the local blockchain community and playing our part in shaping its future.” He continued,
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.
This development bookends a successful 2023, which started the year with Hashkey Capital’s $500 million funding round, a testament to the firm’s growth and influence in the crypto asset management space. The company’s operations in Singapore include a team of approximately 40 staff members, covering a range of services from venture capital investment and fund management to over-the-counter trading of digital assets.
Managing over US$1 billion in client assets, the firm has invested in over 500 projects across infrastructure, tools, and applications within the blockchain and crypto domains. The achievement by Hashkey Capital Singapore comes on the heels of similar licenses granted to other firms in the region, such as Digift and SBI Digital Markets, signaling a growing regulatory embrace of digital assets in Singapore.
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