Hex Trust, the custody and trade services platform on encryption, obtained a major payment license (MPI) from the Monetary Authority in Singapore (MAS). The license, granted on March 1, 2025, allows the company to provide money transfer services across the organized border and the distinguished code services for digital payment (DPT).
Singapore allows Hex Trust Cross
This new license enhances Hex Trust in the digital assets sector, as it now offers a comprehensive set of services that include custody, trading trading (OTC), settlement, and slopes on/OFF. The company has previously obtained the approval of the principle (IPA) to obtain a MPI license in July 2024, and the final approval is a major step forward on its organizational journey.
Hex Trust has been working in Singapore since 2020, focusing on serving credit and founders. The company’s expansion in the major global financial centers, including Hong Kong, Dubai, France and Italy, was driven by a strong commitment to organizational compliance and institutional asset services.
in statementCalvin Shen, chief commercial officials and CEO of Hex Technologies PTE. The Ltd.
MAS submitted reforms in the POS Act (PS) last year to enhance the regulation of distinguished code service providers (DPT). As of April 4, 2024, the changes have expanded organizational supervision to include guard services, facilitating cryptocurrency transactions, and transporting money across the border.
After modifications, MAS can now impose strict compliance requirements on DPT service providers, including customer’s due care, monitoring suspicious activities, and reporting possible financial crimes. The entities participating in the newly organized activities must notify MAS within 30 days and apply for a license within six months. They must also submit a compliance report from an external auditor within nine months, or stop operations if they fail to comply.
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