Hex Technologies Pte Ltd (“Hex Trust”, and together with its affiliates, the “Hex Trust Group”), a leading digital assets financial institution specializing in custody and trading services, announced that it has received a Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS).
Issued on March 1, 2025, the license authorizes Hex Trust to provide regulated cross-border money transfer services and Digital Payment Token (DPT) services. With this license, Hex Trust now offers a fully-integrated solution including custody, over-the-counter (OTC) trading, and settlement, including fiat on and off ramps.
Hex Trust received In Principle Approval (IPA) for the MPI license in July 2024. Securing the license from the MAS further reinforces Hex Trust’s commitment to delivering fully compliant digital asset services to accredited and institutional clients. As a global fintech hub with rigorous regulatory standards, 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. 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.” - 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.” - Alessio Quaglini, Co-Founder and Group CEO of Hex Trust.
Hex Trust has been operating in Singapore since 2020, with a dedicated 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 continues to enable safe market access for digital asset investment.