Its parent company, HashKey Group, attained unicorn status in January with a $100 million Series A funding round at a valuation of $1.2 billion.
HashKey Technology Services, the over-the-counter trading arm of HashKey Group, has received in-principal approval on February 28 from the Monetary Authority of Singapore (MAS) for its major payments license (MPI) application to provide digital fiat and crypto services.
“With this in-principle approval, we're pleased to move a step closer to providing a comprehensive and regulated OTC trading solution that supports a wide range of digital payment tokens and fiat currencies," said Li Liang, CEO of HashKey OTC.
Currently, HashKey OTC operates under a licensing exemption in Singapore. The firm provides services to accredited investors and financial institutions with spot trading for 40 digital assets with liquidity support, fiat-to-crypto on-ramp services, and large notional trades.
