Alexander Savenkov In a demonstration of Singapore’s forward-thinking approach to digital assets, Hashkey Capital Singapore has been granted a comprehensive Capital Markets Services license by the Monetary Authority of Singapore (MAS). This development empowers the company to augment its fund management services and play a pivotal role in the expanding blockchain ecosystem in the region.
With the new CMS License from MAS, Hashkey Capital Singapore Strengthens Its Market Position
Singapore’s digital asset landscape has received a boost as Hashkey Capital Singapore, a branch of the Hong Kong-headquartered digital asset group Hashkey, has obtained a complete Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS). This license is a key milestone for Hashkey Capital Singapore, enabling it to broaden its regulated fund management offerings across the region.
After applying for the license in late 2021, Hashkey Capital Singapore is set to utilize this new accreditation to introduce regulated funds and provide capital market products to the local market. The CMS license equips the firm to be an active participant and contributor to Singapore’s thriving blockchain community.
Mr. Deng Chao, CEO of Hashkey Capital Singapore and the head of Hashkey Singapore, expressed his views on this significant accomplishment. He remarked, “Obtaining the CMS license from MAS is a momentous event for Hashkey Capital and the dynamic Web3 environment in Singapore. As a licensed fund management entity, we are dedicated to supporting the local blockchain community and influencing its future trajectory.” He further added,
Singapore’s innovative ethos resonates with our goals. We are eager to advance blockchain-centric capital markets products and investments, creating new opportunities for institutional and accredited investors.
This milestone caps off a triumphant 2023 for Hashkey Capital, beginning with a $500 million funding round, underscoring the firm’s expansion and impact in the crypto asset management sector. The company’s Singapore operations encompass a team of around 40 professionals, delivering services ranging from venture capital investment and fund management to over-the-counter digital asset trading.
Managing in excess of US$1 billion in client assets, Hashkey Capital has made investments in over 500 ventures spanning infrastructure, tools, and applications in the blockchain and cryptocurrency sectors. This accomplishment by Hashkey Capital Singapore follows similar licenses awarded to other entities in the region, like Digift and SBI Digital Markets, indicating an increasing regulatory acceptance of digital assets in Singapore.
What are your views on Singapore’s position as a leader in digital asset innovation? We invite you to share your insights and opinions on this topic in the comments section.
Frequently Asked Questions (FAQs) about Hashkey Capital Singapore License
What is the significance of Hashkey Capital Singapore receiving a CMS license from MAS?
The granting of a full Capital Markets Services (CMS) license to Hashkey Capital Singapore by the Monetary Authority of Singapore (MAS) is significant as it allows the firm to expand its regulated fund management services in the region. This move is indicative of Singapore’s progressive approach towards digital assets and blockchain technology, and it positions Hashkey Capital Singapore as a key player in the region’s burgeoning blockchain community.
How will Hashkey Capital Singapore utilize its CMS license?
With the CMS license, Hashkey Capital Singapore plans to launch regulated funds and offer capital market products to local customers. The license enables the firm to actively contribute to and foster progress within Singapore’s growing blockchain community, enhancing its service offerings in the fields of venture capital investment, fund management, and over-the-counter trading of digital assets.
What does the CMS license from MAS mean for the blockchain community in Singapore?
The CMS license awarded to Hashkey Capital Singapore by MAS is a testament to Singapore’s supportive regulatory environment for digital assets and blockchain technology. It signifies a growing regulatory embrace of digital assets in the region, which is expected to boost innovation and investment in the blockchain sector, benefiting both the local community and the wider blockchain ecosystem.
More about Hashkey Capital Singapore License
- Monetary Authority of Singapore
- Hashkey Capital Singapore Overview
- Singapore’s Blockchain Initiatives
- Digital Asset Regulation in Singapore
- Overview of Capital Markets Services License
- Trends in Crypto Asset Management
- Singapore’s Digital Asset Market Growth
5 comments
congrats to Hashkey Capital, but still a long way to go for mainstream adoption of crypto, curious to see how they’ll use this license
i think this is a positive step, shows that Singapore is serious about being a hub for digital finance, MAS is really setting standards here!
Interesting development, but lets not forget regulation is still a grey area in many parts of the world, hope Singapore’s move encourages others.
great news but whats the real impact for the average investor, will we see more innovations in blockchain tech from this??
wow this is huge for Hashkey! Singapore really leading the way in digital assets. wonder how this will shape the market in the coming years??