HashKey Capital Singapore, the Singapore subsidiary of Hong Kong-based digital asset group HashKey, has secured a significant regulatory milestone by obtaining a full Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS). This license allows the company to provide regulated fund management services primarily in relation to capital market products within Singapore.
The acquisition of the license, which the company describes as a pivotal development, marks a substantial move towards providing regulated fund management services on a Singapore basis. The company, which applied for a license in late 2021, has expressed its intention to launch regulated funds and offer tailored capital markets products to local clients.
HashKey Capital Singapore aims to bridge the gap between the traditional and digital financial ecosystems. CEO Deng Chao emphasized the company’s commitment to contributing to the local blockchain community, promoting its development, and connecting global capital with local markets. Chao expressed excitement about leveraging Singapore’s spirit of innovation to bring blockchain-related capital markets products into the mainstream and provide new avenues for institutional and accredited investors.
My name is Deng Chao, CEO of HashKey Capital Singapore and head of HashKey Singapore. (Image source: STRAITS TIMES)
HashKey Capital Singapore’s latest performance follows the parent company completing a sizeable $500 million funding round for its third fund in early January. With plans to invest in Web3 and cryptocurrency initiatives globally, the company is positioned to actively participate in the evolution of the decentralized web and cryptocurrency landscape.
Founded in 2015, HashKey Capital is one of the prominent crypto asset managers and an early institutional investor in Ethereum. We manage over $1 billion in client assets, focusing our investments on over 500 projects encompassing infrastructure, tools and applications related to blockchain technology.
The expansion of HashKey Capital’s Singapore office, bolstered by a CMS license, marks a notable step forward towards deeper integration of blockchain technology into the traditional financial environment. By securing regulatory approval, HashKey provides a more regulated and integrated approach to capital markets products in Singapore and signals growing institutional interest in Web3 and the wider blockchain ecosystem. The move not only highlights Singapore’s attractiveness as a blockchain-friendly hub, but also hints at an evolving landscape in which regulated entities are increasingly participating in the cryptocurrency space.