Catenaa, Friday, March 07, 2025-Digital asset custodian Hex Trust has received a Major Payment Institution (MPI) license from Singapore’s Monetary Authority (MAS), allowing the firm to offer regulated digital payment token services and cross-border money transfers.
The full license, granted on March 1, 2025, follows the company’s initial approval in July 2024. Hex Trust sees Singapore as a crucial market due to its clear regulatory framework and strong institutional participation in digital assets.
Hex Trust has been expanding its regulatory footprint across major financial hubs, securing approvals in Hong Kong, Dubai, France, and Italy. Co-founder and Group CEO Alessio Quaglini emphasized that the Singapore license strengthens the firm’s global position as a trusted institutional partner.
The approval places Hex Trust alongside companies like Anchorage Digital, Coinbase, BitGo, Circle, and Crypto.com in securing Singapore’s top-tier payment license for digital assets.
