HashKey Capital Singapore Pte. Ltd., together with its affiliates, announced Friday that it has received its in-principle approval for the Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) as a licensed fund management company (LFMC).

When granted, the CMS license will allow HashKey Capital Singapore to conduct fund management services from Singapore, the firm said in a statement.

HashKey Capital Singapore, part of HashKey Capital, prides itself as a company which takes the next step in bringing digital assets closer to mainstream institutional adoption.

“Singapore is quickly becoming the region’s epicentre of Web3 innovation. Being recognised by the MAS as a licensed fund management company will allow HashKey Capital Singapore to contribute to and support the local Web3 community, which is considered a significant accomplishment for us,” said Deng Chao, Chief Executive Officer, HashKey Capital Singapore.

“As one of the top Web3 institutional investors in Asia, HashKey Capital is prepared to make additional contributions to help the local Web3 industry grow even more,

“Once the CMS license is granted, HashKey Capital will be able to offer its services to institutional and accredited investors. Moreover, we expect that it will strengthen the company’s position across Asia and even on a global scale,” he added.

HashKey Capital had also in early September 2022 been granted an uplift of its Type 9 licence for asset management by the Securities and Futures Commission (SFC) of Hong Kong, enabling the company to manage a portfolio of 100% virtual assets.

Other than that, HashKey Capital is a “Recognised Investment Firm” under the Tech@SG programme, the first blockchain venture capital firm to be recognised under this programme.

The programme aims to help fast-growing companies hire key talent to grow and expand their business in Singapore, and is jointly administered by the Singapore Economic Development Board (EDB) and Enterprise Singapore.

HashKey Capital portfolio companies that meet the programme criteria can expect to receive company-level endorsement from the Tech@SG Programme to the Ministry of Manpower (MOM), reducing the risks of rejections for their employment pass applications to the MOM.

HashKey Capital, the investment arm of the HashKey Group, is an asset manager investing in blockchain technology and digital assets, managing over $1 billion in client assets since its inception.

As one of the largest blockchain funds based in Asia and is known for being ethereum’s earliest corporate investor in the region, its mission is to bridge digital assets to the mainstream while connecting Web2 and Web3.

HashKey Capital operates in Hong Kong and Singapore, with strong connections in Japan and the United States, and has invested in over 500 global projects from Layer 1, protocols, crypto finance, Web3 Infrastructure, non-fungible token (NFT) to Metaverse since 2015.

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