HashKey Capital Singapore, the Singapore arm of Hong Kong-based digital asset group HashKey, has been granted a full capital markets services license by the Monetary Authority of Singapore (MAS). This development enables the firm to provide regulated fund management services, primarily related to capital markets products, from its Singapore base, the Straits Times said in a report.
The application for this license was submitted to MAS in late 2021, and the approval marks a significant step for the digital asset fund manager. HashKey Capital Singapore has plans to launch a regulated fund and offer capital market products to local customers, expanding its footprint in the region.
The company is positioning itself as a bridge, connecting blockchain experts and global capital to the local market, with the aim of fostering progress in the blockchain community in the Asia-Pacific region. Mr. Deng Chao, Chief Executive of HashKey Capital Singapore and Head of HashKey Singapore, expressed the firm’s commitment to the local blockchain community.
He said, “As a licensed fund management company, we are committed to contributing to the local blockchain community and playing our part in shaping its future. Singapore’s innovative spirit aligns with our mission, and we’re excited to propel blockchain-related capital markets products and investments further into the mainstream, offering new possibilities for institutional and accredited investors.”
HashKey Singapore, including HashKey Capital Singapore, currently employs approximately 40 staff members in Singapore, covering various aspects of venture capital investment, fund management, and over-the-counter trading of digital assets.
This development comes on the heels of HashKey Capital’s successful conclusion of a US$500 million (S$666 million) funding round. Established in 2015, HashKey Capital is one of the largest crypto asset managers and has been a pioneer institutional investor in Ethereum. Over the years, it has managed more than US$1 billion in client assets, with investments spanning across 500 projects in infrastructure, tools, and applications within the crypto ecosystem.
