{"id":25709,"date":"2024-07-24T16:00:48","date_gmt":"2024-07-24T13:00:48","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25709"},"modified":"2024-07-24T12:17:16","modified_gmt":"2024-07-24T09:17:16","slug":"hex-trust-gets-mpi-license-approval-in-singapore","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/hex-trust-gets-mpi-license-approval-in-singapore\/","title":{"rendered":"Hex Trust Gets MPI License Approval in Singapore"},"content":{"rendered":"<p>Seeking to grow in Singapore, <strong>Hex Trust<\/strong>, an institutional crypto custodian, has in-principal permission for a Major Payment Institution (MPI) license.<\/p>\n<p>The company announced in a statement that the Monetary Authority of Singapore has given them preliminary permission for the MPI license, therefore enabling the company to provide <em>&#8220;digital payment token services,&#8221;<\/em> namely the custody and OTC trading of DPTs, in Singapore.<\/p>\n<p><em>&#8220;We are delighted to increase our visibility in Singapore\u2014a vibrant hub for fintech innovation renowned for its outstanding regulatory framework<\/em>,&#8221; said <strong>Hex Trust<\/strong> co-founder and CEO Alessio Quaglini.<\/p>\n<p>The most recent compliance update for Singapore shows the business acquiring a November 2023 complete Virtual Asset Service Provider license from Dubai. In 2020, <strong>Hex Trust<\/strong> opened an office in Singapore in order to &#8220;<em>unlock new capabilities for Singapore-based institutional and corporate clients.&#8221;<\/em><\/p>\n<p>In its Series B investment round in 2022, <strong>Hex Trust<\/strong> raised $88 million; in August 2023, it obtained regulatory clearance in France to provide services including digital asset custody, buying, selling, and trading.<\/p>\n<p>&nbsp;<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for <\/em><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seeking to grow in Singapore, Hex Trust, an institutional crypto custodian, has in-principal permission for a Major Payment Institution (MPI) license. The company announced in a statement that the Monetary Authority of Singapore has given them preliminary permission for the MPI license, therefore enabling the company to provide &#8220;digital payment token services,&#8221; namely the custody<\/p>\n","protected":false},"author":6,"featured_media":25710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[6256,1776],"class_list":["post-25709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hex-trust","tag-singapore"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hex Trust Gets MPI License Approval in Singapore - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/hex-trust-gets-mpi-license-approval-in-singapore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hex Trust Gets MPI License Approval in Singapore - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Seeking to grow in Singapore, Hex Trust, an institutional crypto custodian, has in-principal permission for a Major Payment Institution (MPI) license. 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