HashKey Technology Services, an over-the-counter trading division of HashKey Group, has received initial approval from the Monetary Authority of Singapore (MAS) for its major payments license application, which will allow it to offer digital services in fiat and cryptocurrencies.
HashKey OTC is excited about this approval, and CEO Liiang says it brings them one step closer to providing a regulated over-the-counter trading solution that supports a variety of digital payment tokens and fiat currencies.
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Currently, HashKey OTC operates with a license exemption in Singapore, serving accredited investors and financial institutions with services such as spot trading of 40 digital assets, fiat to crypto conversion and large notional trades.
In addition to this major payments license, HashKey OTC also holds a Capital Markets Services license which was granted in December 2020.