Hex Trust has received a major payment institution ( MPI ) licence from the Monetary Authority of Singapore ( MAS ), allowing the digital asset custodian to provide regulated cross-border money transfer and digital payment token ( DPT ) services. The licence follows the in-principle approval it secured in July 2024.

With the MPI licence, Hex Trust now offers a fully integrated solution including custody, over-the-counter ( OTC ) trading, and settlement, including fiat on and off ramps.

Calvin Shen, group chief commercial officer and chief executive officer of Hex Technologies, says: “Securing the MPI licence is a testament to our team’s dedication to working closely with the MAS to meet its regulatory requirements. With a well-established regulatory framework and commitment to innovation, Singapore continues to drive institutional adoption of digital assets. As a leading provider of digital asset services in Asia, Singapore is a key market for Hex Trust, and this milestone enables us to further enhance our services, providing institutional clients with secure and compliant digital asset solutions."

Hex Trust has been operating in Singapore since 2020. It has secured licences and registrations in other key global financial hubs, including Hong Kong, Dubai, France, and Italy.