Hex Technologies (Hex Trust), a Hong Kong-based digital assets financial institution, announced Thursday that it has received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS).
Hex Technologies said in a statement that the license authorizes the firm to provide regulated cross-border money transfer services and digital payment token (DPT) services.
With this license, the firm now offers a fully-integrated solution including custody, over-the-counter (OTC) trading, and settlement, including fiat on and off ramps.
It is noted that Hex Trust received in principle approval (IPA) for the MPI license in July 2024.
Securing the license from the MAS further reinforces the firm’s commitment to delivering fully compliant digital asset services to accredited and institutional clients.
As a global fintech hub with rigorous regulatory standards, it said Singapore continues to drive innovation in digital finance, making this license a significant step in expanding access to Hex Trust’s regulated digital asset solutions.
“Securing the MPI license 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,” said Calvin Shen, Group Chief Commercial Officer and Chief Executive Officer of Hex Technologies.
“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,” he added.
Alessio Quaglini, Co-Founder and Group Chief Executive Officer of Hex Trust, said that Hex Trust’s expansion across global financial hubs is underpinned by its commitment to compliance, risk management, and institutional-grade digital asset services.
“Securing the MPI license in Singapore reinforces our position as a global leader and trusted partner, bridging traditional finance with the digital asset economy,” he added.
According to the statement, Hex Trust has been operating in Singapore since 2020, with a team and office serving accredited and institutional clients.
The MPI license marks a significant milestone in the company’s regulatory journey, reinforcing its proactive engagement with regulators.
With licenses and registrations secured in key global financial hubs — including Hong Kong, Dubai, France, and Italy — Hex Trust said the firm continues to enable safe market access for digital asset investment.
Established in 2018, Hex Trust offers regulated institutional digital asset custody, staking and markets services to builders, investors and service providers.
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