Hashkey Capital, an asset manager investing in blockchain technology and digital assets, has received in-principle approval for a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) as a licensed fund management company (LFMC), the company announced in a statement on Friday.
The CMS license will allow Hashkey to offer its services to institutional and accredited investors in the city-state.
“Singapore is quickly becoming the region’s epicentre of Web3 innovation. Being recognised by the MAS as a licensed fund management company will allow HashKey Capital Singapore to contribute to and support the local Web3 community, which is considered a significant accomplishment for us,” Deng Chao, CEO, HashKey Capital Singapore, said.
The news follows Hashkey’s announcement that it has secured a Type 9 license uplift for asset management by the Securities and Futures Commission (SFC) of Hong Kong in September 2022, enabling the company to manage a portfolio of 100% virtual assets in the territory.
HashKey Capital, the investment arm of Hashkey Group, invests across the blockchain ecosystem, encompassing public chains, protocols, applications, and crypto finance providers. As of June 2022, its portfolio includes more than 200 companies in 17 regions, according to its website.
“As one of the top Web3 institutional investors in Asia, HashKey Capital is prepared to make additional contributions to help the local Web3 industry grow even more,” Chao said.