HashKey Group's over the counter arm is the latest cryptocurrency company to receive a payment licence from the Monetary Authority of Singapore, introduced under the Payment Services Act 2019, which allows companies to offer "digital payment tokens" in Singapore. In February, HashKey received approval in principle for a major payments institution licence after operating under a regulatory exemption to provide spot trading, fiat currency entry and settlement services. Founded in 2018 and headquartered in Hong Kong, HashKey Group is a financial services company that provides crypto services across Asia through its Exchange, Asset Management, Node Operations, Tokenization and NFT divisions. The company also has offices in Singapore, Japan and Bermuda.