Hex Trust expands its capabilities in Singapore by obtaining an MPI license for cross-border money transfers.
Obtaining the MPI License
Hex Technologies Pte. Ltd. has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, allowing it to offer cross-border money transfer services, custody, over-the-counter trading, and settlements.
Management's Commentary
Calvin Shen, CEO of Hex Technologies Pte. Ltd., stated that Singapore remains a key market for the company, and obtaining the license strengthens its position among institutional clients.
Hex Trust's Achievements and Plans
The MPI license marks another regulatory achievement for the company in Singapore. Previously, it obtained a Capital Markets Services license in 2021. Hex Trust also holds licenses in Hong Kong, Dubai, France, and Italy. In February, the company secured strategic funding from Morgan Creek Digital and other investors.
The MPI license solidifies Hex Trust’s position in the Singapore market and highlights the company's determination to expand its capabilities.
