HashKey Group’s over-the-counter trading arm is the latest crypto firm awarded a payment license by the Monetary Authority of Singapore. The license, introduced under the Payment Services Act of 2019, enables companies to provide “digital payment token” services in the Southeast Asian city-state.  

“This significant achievement solidifies HashKey OTC's position as a leading provider of regulated OTC trading,” the firm wrote in a statement, adding it underscores its efforts to achieve regulatory compliance.

In February, HashKey was awarded in-principle approval for the Major Payment Institution license. It had previously operated under a regulatory exemption to provide spot trading, fiat onramps and settlement services.

HashKey Group, founded in 2018 in Hong Kong, is a …