Crypto fund manager HashKey Capital gets Singapore licence

SINGAPORE - Hong Kong-based digital asset group Hashkey’s Singapore arm has been granted a full capital markets services licence from the Republic’s regulator.

Digital asset fund manager HashKey Capital Singapore on Dec 19 described this as a “pivotal development” that enables the firm to provide regulated fund management services primarily in relation to capital markets products from its base in Singapore. 

It applied for the licence from the Monetary Authority of Singapore (MAS) in late 2021.

The firm said there are plans to launch a regulated fund and offer capital market products to local customers. It added that it is connecting blockchain experts and global capital to the local market, which would help foster progress in the blockchain community in the region.

Mr Deng Chao, chief executive of HashKey Capital Singapore and head of HashKey Singapore, 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, which includes HashKey Capital Singapore, has around 40 staff here, covering venture capital investment, fund management and over-the-counter trading of digital assets.

The development follows HashKey Capital’s conclusion of a US$500 million (S$665 million) funding round.

Founded in 2015, HashKey Capital is one of the largest crypto asset managers and the earliest institutional investor in Ethereum. It has managed over US$1 billion in client assets since its inception, with investments in over 500 projects in infrastructure, tools and applications.