Digital Asset Custodian Hex Trust Gains Singapore Payment License

Hex Trust Group, a digital asset custodian, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS)

This license allows Hex Trust to provide regulated cross-border money transfer and Digital Payment Token (DPT) services.

Granted on 1 March 2025, the license follows the company’s in-principle approval in July 2024.

With this license, Hex Trust can now provide a fully integrated solution, including custody, over-the-counter (OTC) trading, and settlement, as well as fiat on and off-ramps.

The company has operated in Singapore since 2020, serving accredited and institutional clients.

The approval builds on its existing licenses in Hong Kong, Dubai, France, and Italy.

Founded in 2018, Hex Trust offers institutional digital asset custody, staking, and market services.

“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.

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.”

said Calvin Shen, Group Chief Commercial Officer & CEO of Hex Technologies Pte. Ltd.

“Hex Trust’s expansion across global financial hubs is underpinned by our 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.”

said Alessio Quaglini, Co-Founder and Group CEO of Hex Trust.

Featured image credit: Edited from Freepik