31st July 2026
By Shubhii Verma
HashKey Group has announced plans to acquire 100% of Singapore-based Asia Pacific Exchange (APEX), a move that could significantly strengthen its presence in one of Asia’s most tightly regulated digital asset markets. The proposed acquisition, through HashKey’s wholly owned subsidiary HKDAG (Singapore), is subject to definitive agreements and approval from the Monetary Authority of Singapore (MAS).
HashKey Signs Framework Agreement to Acquire APEX
The companies have signed a non-binding framework agreement under which HashKey aims to acquire APEX and its clearing subsidiary, Asia Pacific Clear. The transaction would give HashKey access to two highly sought-after regulatory approvals—an Approved Exchange (AE) licence and an Approved Clearing House (ACH) licence—both issued by MAS. These licences are rare in Singapore and provide operators with the ability to run regulated exchange and clearing infrastructure under the country’s stringent financial oversight.
HashKey Could Strengthen Its Regulated Presence in Singapore
Unlike standard digital payment token licences, the AE and ACH licences place the holder under a higher level of regulatory supervision as a recognised market operator and clearing facility. If the acquisition is approved, HashKey would gain a strong foothold in Singapore’s financial ecosystem while expanding its existing regulated operations in Hong Kong.
The deal reflects a broader trend of consolidation across the digital asset industry, where firms are increasingly acquiring licensed businesses rather than applying for new licences from scratch. Singapore’s rigorous approval process and limited number of authorised exchanges have made existing regulated entities highly valuable acquisition targets.
Acquisition Could Support Institutional Digital Asset Services
By securing APEX, HashKey could accelerate its expansion into institutional digital asset services across Asia. The company may use the platform to introduce new offerings such as crypto derivatives, tokenised securities, and enhanced cross-border trading solutions, although no final product roadmap has been disclosed.
The proposed acquisition also highlights growing demand for regulated infrastructure as governments continue tightening oversight of cryptocurrency markets. Earlier this year, several high-profile acquisitions underscored the premium placed on licensed financial platforms, signalling that regulatory compliance has become a key competitive advantage for digital asset firms.
However, the transaction will undergo detailed scrutiny from MAS before receiving approval. Regulators are expected to assess HashKey’s integration plans, governance standards, financial strength, and the potential impact on market competition and financial stability. They will also examine whether consolidating regulated exchange and clearing infrastructure under a single operator could affect Singapore’s digital asset ecosystem.
If approved, the acquisition would position HashKey among the few companies operating regulated crypto trading infrastructure in both Hong Kong and Singapore, strengthening its regional presence and supporting the continued growth of institutional digital asset markets across Asia.
