Bitcoin

HashKey Technology Services, the over-the-counter (OTC) trading arm of HashKey Group, hreceived in-principal approval on Feb. 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,”&nbsp;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.
In December 2023, the MAS awarded HashKey OTC with a Capital Markets Services license. MPI-licensed firms are authorized to conduct payment services without being subjected to transaction limits of 3 million Singapore dollars ($2.2 million) for any payment service. The approved companies are also free from the 6 million Singapore dollar ($4.4 million) limit of monthly transactions for two or more payment services other than e-money account issuance and money-changing services.
HashKey Group currently operates one of the only two crypto exchanges in Hong Kong licensed for virtual assets trading, the other being OSL Exchange. On Jan. 16, HashKey Group reached unicorn status after closing a $100 million Series A funding round at a <a href="https://cointelegraph.com/news/hong-kong-hashkey-raise-100m-series-a-funding-valuation">valuation of $1.2 billion</a>. 
HashKey’s chief operating officer, Livio Weng, told Chinese media outlet Caixin in an interview <a href="https://finance.caixin.com/2024-01-10/102154969.html" target="_blank" rel="noopener nofollow">published</a> on Jan. 10 that 10 firms are looking to launch spot Bitcoin exchange-traded funds in Hong Kong following their approval by the U.S. Securities and Exchange Commission the same month.&nbsp;
Related:&nbsp;<a href="https://cointelegraph.com/news/hashkey-exchange-onboard-market-makers-boost-liquidity">HashKey Exchange to onboard market makers to boost liquidity</a>

HashKey OTC secures in-principal license approval in Singapore

Cointelegraph

Other articles published on Feb 28, 2024

Bitcoin Foe Peter Schiff Again Finds an Excuse for the Recent Rally in BTC Price: Reveals His Pre...

XRP Poised for Mega Surge to $0.91 by March, Predicts Top Analyst

AI’s Growth Momentum to Also Seep Into ETFs in Upcoming Decade

Nayib Bukele, President of El Salvador’s Bitcoin Bull Nayib Bukele Speaks After the Big Rally: Re...

Cardano Skyrockets in February: March Momentum Builds!

WeBuy (WE) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Join our free newsletter for daily crypto updates!