Hashkey Capital Singapore has recently secured a full Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS), reflecting Singapore’s forward-thinking approach to digital assets. As a subsidiary of Hong Kong-based digital asset group Hashkey, this license allows Hashkey Capital Singapore to expand its regulated fund management services in the region and contribute to the thriving blockchain community in Singapore. With this milestone achievement, the company aims to launch regulated funds and offer capital market products to local customers, further solidifying its position in the crypto asset management space.
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Hashkey Capital Singapore Elevates Its Market Presence with New CMS License from MAS
In another positive move for the digital assets sector in Singapore, Hashkey Capital Singapore, a subsidiary of Hong Kong-based digital asset group Hashkey, has been granted a full Capital Markets Services (CMS) license by the Monetary Authority of Singapore (MAS). This approval marks a crucial step for the firm in expanding its regulated fund management services within the region.
Hashkey Capital Singapore applied for the CMS license in late 2021, aiming to leverage this opportunity to launch regulated funds and offer capital market products to local customers. The CMS license allows the firm to actively contribute to and foster progress within Singapore’s burgeoning blockchain community.
Reflecting Singapore’s progressive stance on digital assets, the granting of the CMS license to Hashkey Capital Singapore highlights the country’s commitment to embracing the potential of blockchain technology. Singapore has positioned itself as a leading global hub for fintech innovation and has been proactive in establishing a regulatory framework that promotes the responsible growth of digital assets.
Background of Hashkey Capital Singapore’s CMS License
The CMS license obtained by Hashkey Capital Singapore signifies that the firm has met the rigorous requirements set by the MAS to operate as a licensed fund management company. This license further strengthens the firm’s capabilities and positions it as a trusted player in the digital asset management industry.
Hashkey Capital Singapore’s successful application for the CMS license demonstrates its commitment to adhering to Singapore’s regulatory standards and its dedication to providing secure and reliable fund management services to its clients. The license enables the firm to offer a wider range of financial products and services, ensuring its compliance with the regulatory framework set by MAS.
The Importance of Full Capital Markets Services License
Obtaining a full Capital Markets Services license is a significant milestone for any financial institution operating in Singapore’s capital markets. The license empowers the firm to engage in a broader scope of regulated activities, including fund management, dealing in securities, and providing investment advice.
A full CMS license demonstrates the firm’s compliance with rigorous regulatory standards, ensuring transparency, and protecting investors’ interests. It also instills confidence in clients, as they can trust that the firm operates within a regulated framework and upholds the highest standards of professionalism and integrity.
For Hashkey Capital Singapore, the CMS license opens up new opportunities to launch innovative investment products and services, catering to both institutional and accredited investors. It enables the firm to tap into the growing demand for digital asset investments and contribute to the development of Singapore’s financial ecosystem.
Applying for the CMS License
Applying for a CMS license requires a comprehensive understanding of the regulatory framework and a commitment to meeting the MAS’s stringent requirements. Hashkey Capital Singapore went through a thorough application process, ensuring that it complied with all necessary criteria and provided the required documentation.
The application process involved a detailed assessment of the firm’s compliance controls, risk management framework, and financial stability. It also required the firm to demonstrate its expertise and track record in the asset management industry.
Hashkey Capital Singapore worked closely with the MAS throughout the application process, providing all necessary information and addressing any queries or concerns raised by the regulatory body. This collaborative approach ensured a smooth and efficient application process, resulting in the successful issuance of the CMS license.
Opportunities for Launching Regulated Funds
With the CMS license in hand, Hashkey Capital Singapore is well-positioned to capitalize on the growing demand for regulated investment products in the digital assets space. The license enables the firm to launch and manage regulated funds, providing investors with access to diverse investment strategies and opportunities.
Regulated funds offer investors the benefits of professional management, transparency, and regulatory oversight. They provide a secure and regulated way for investors to gain exposure to the potential upside of digital assets while mitigating the associated risks.
Hashkey Capital Singapore aims to leverage its CMS license to develop innovative fund products tailored to the unique needs of Singapore’s investors. The firm’s deep expertise in digital assets and its commitment to responsible investment practices position it as a trusted partner for investors seeking exposure to this emerging asset class.
Contributing to Singapore’s Blockchain Community
Hashkey Capital Singapore’s CMS license represents more than just a business opportunity; it is a testament to the growing vibrancy of Singapore’s blockchain community. The firm is committed to actively contributing to the local ecosystem and playing a role in shaping its future.
Through partnerships with local blockchain projects and participation in industry forums, Hashkey Capital Singapore aims to support the growth and development of Singapore’s blockchain ecosystem. The firm recognizes the potential of blockchain technology to revolutionize various industries and is dedicated to fostering innovation and collaboration within the community.
By actively engaging with stakeholders, sharing insights, and collaborating on initiatives, Hashkey Capital Singapore seeks to contribute to Singapore’s reputation as a global leader in blockchain innovation. The firm’s CMS license enables it to provide valuable expertise and resources to the community, further enhancing Singapore’s position as a hub for blockchain and fintech innovation.
CEO’s Comments on the Achievement
Mr. Deng Chao, CEO of Hashkey Capital Singapore and Head of Hashkey Singapore, expressed his excitement and pride in securing the CMS license from the MAS. He emphasized the significance of this achievement for both Hashkey Capital and Singapore’s blockchain landscape.
Mr. Deng Chao highlighted Singapore’s innovative spirit and commitment to embracing cutting-edge technologies. He expressed his enthusiasm for propelling blockchain-related capital markets products and investments into the mainstream, opening up new possibilities for institutional and accredited investors.
The CEO reiterated Hashkey Capital Singapore’s dedication to contributing to the local blockchain community and shaping its future. He emphasized the firm’s commitment to adhering to the highest standards of professionalism, transparency, and integrity in providing regulated fund management services.
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Hashkey Capital’s Successful Year
The obtention of the CMS license crowns a successful year for Hashkey Capital Singapore. The firm started 2023 with a significant milestone – a $500 million funding round. The successful funding round not only demonstrates investor confidence in Hashkey Capital’s capabilities but also highlights the increasing interest and demand for digital asset investments.
With approximately 40 staff members, Hashkey Capital Singapore’s operations encompass a range of services, including venture capital investment, fund management, and over-the-counter trading of digital assets. The firm has invested in over 500 projects within the blockchain and crypto domains, managing over US$1 billion in client assets.
The firm’s substantial growth and success position it as a key player in the digital asset management space. The CMS license further strengthens Hashkey Capital’s position, enabling it to expand its offerings and continue providing innovative and reliable solutions to its clients.
Growing Regulatory Embrace of Digital Assets in Singapore
The granting of a full CMS license to Hashkey Capital Singapore is reflective of the growing regulatory embrace of digital assets in Singapore. The MAS has been proactive in establishing a robust regulatory framework that balances innovation with investor protection and market integrity.
The MAS recognizes the potential of blockchain technology and digital assets to transform various sectors, including finance, logistics, and healthcare. Through its proactive approach to regulation, the MAS aims to foster a conducive environment for innovation and growth in these areas.
The CMS licenses granted to various firms in the region, including Hashkey Capital Singapore, Digift, and SBI Digital Markets, highlight the increasing regulatory support for digital assets. These licenses enable firms to offer regulated financial products and services, providing investors with secure and transparent ways to participate in the digital asset ecosystem.
Singapore’s progressive stance and growing regulatory embrace of digital assets position the country as a preferred destination for blockchain and fintech companies. The supportive regulatory environment, combined with robust infrastructure and talent pool, make Singapore an attractive hub for digital asset innovation and investment.
In conclusion, Hashkey Capital Singapore’s achievement in securing the full Capital Markets Services license from MAS is a significant milestone for both the firm and Singapore’s blockchain community. The license enables Hashkey Capital Singapore to elevate its market presence, launch regulated funds, and contribute to the development of Singapore’s digital asset ecosystem. This achievement further reinforces Singapore’s commitment to fostering innovation and growth in the digital assets sector, solidifying its position as a global leader in blockchain and fintech.
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