According to BlockBeats, on July 24, Hex Trust, a cryptocurrency custodian, has received principle approval for a Major Payment Institution (MPI) license in Singapore. This approval allows the company to offer 'digital payment token services,' including custody and over-the-counter (OTC) trading of digital payment tokens in Singapore.

In addition, Hex Trust secured a full virtual asset service provider license in Dubai in November 2023. The company is actively seeking to expand its operations in Singapore following this recent approval.