HashKey Group's OTC trading department is the latest cryptocurrency company to obtain a payment license from the Monetary Authority of Singapore. The license was launched based on the 2019 Payment Services Act, allowing companies to provide "digital payment tokens" services in Singapore.

In February of this year, HashKey received a provisional approval for a major payment institution license. Prior to this, the company operated under regulatory exemptions, providing spot trading, fiat currency entry, and settlement services.

Established in 2018, HashKey Group is a financial services company headquartered in Hong Kong, providing cryptocurrency services across Asia through its exchanges, asset management, node operations, tokenization, and NFT departments. The company also has offices in Singapore, Japan, and Bermuda.