Hex Trust Secures Major Payment Institution License from Singapore, Enhancing Cryptocurrency Services

Hex Trust, a cryptocurrency custodian, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license permits Hex Trust to offer comprehensive cross-border money transfer services, including custody, over-the-counter trading, and integrated fiat on and off ramps. CEO Calvin Shen emphasized the importance of Singapore as a key market and highlighted the new license as a testament to the company's commitment to meeting regulatory standards. This achievement follows previous approvals in Singapore and comes as Hex Trust seeks to expand offerings for institutional clients. The firm has also gained significant financial backing, securing over $100 million in funding led by Morgan Creek Digital, paving the way for a Series C raise anticipated in 2025.