Linklaters advises Hydra X on obtaining its capital markets services licence from the Monetary Authority of Singapore

Linklaters advised Singapore-headquartered fintech company Hydra X on obtaining its capital markets services (CMS) licence from the Monetary Authority of Singapore (MAS). The CMS licence allows Hydra X to deal in, and provide custodial services for, capital market products including tokenised securities.

The transaction involved working closely with the MAS on the process of the licence application, while managing complex timelines for Hydra X as it successfully graduates from the MAS FinTech Regulatory Sandbox.

The licence approval has paved the way for Hydra X to continue its foray into capital markets as one of the first movers in this space, and allows the company to expand its range of services to its clients in the digital asset ecosystem.

The Linklaters’ team was led by financial regulation partner Peiying Chua who is based in the firm’s Singapore office.

Partner Peiying Chua, commented:

“We are honoured to have supported Hydra X on successfully obtaining the relevant licences from the MAS within the complex timelines involved. This transaction is another testament to Linklaters’ involvement in the wider development of the digital asset ecosystem in the region.”