Key Takeaways
- The license allows Hashkey Capital to conduct fund management services from Singapore.
- Once the CMS license is granted, HashKey Capital will be able to offer its services to accredited/institutional investors.
HashKey Capital announced on Friday that it had received in-principle approval for the Capital Markets Services (CMS) license from the Monetary Authority of Singapore as a licensed fund management company.HashKey Capital is the investment arm of the HashKey Group, which is the digital assets and blockchain arm of the Chinese conglomerate Wanxiang Group.
The CMS license allows the crypto firm to conduct fund management services from Singapore. “Once the CMS license is granted, HashKey Capital will be able to offer its services to institutional and accredited investors. Moreover, we expect that it will strengthen the company’s position across Asia and even on a global scale”, the official press statement reads.
Commenting on the latest development, Mr. Deng Chao, CEO HashKey Capital Singapore said, “Being recognized 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.”
In recent times, Singapore’s central bank MAS has been granting in-principle Capital Markets Services licenses to several crypto firms, including stablecoin issuers Circle and Paxos and leading crypto exchange Blockchain.com among others.
In September 2022, HashKey Capital was granted an uplift of its Type 9 license for asset management by the Securities and Futures Commission of Hong Kong, allowing the firm to manage a portfolio of 100% virtual assets.
According to the official website, HashKey Capital is an institutional asset manager investing exclusively in blockchain technology and digital assets. Earlier this year, HashKey Capital received a $360 million commitment from investors for its new blockchain fund.
HashKey Group has invested in over 500 global projects revolving around Web3, including cross-chain protocol Polkadot, crypto lender BlockFi, DeFi protocol Terra, non-fungible token (NFT) and metaverse fund Animoca Brands, privacy tool Mask, blockchain node infrastructure provider Blockdaemon among others.
