HashKey is seeking to acquire APEX to expand its institutional trading and clearing operations in Singapore.

Its wholly owned subsidiary, HKDAG (Singapore), has signed a non-binding framework agreement with Asia Pacific Exchange and its major shareholder for the potential purchase of the entire company.

APEX holds an Approved Exchange licence from the Monetary Authority of Singapore, while its group company, Asia Pacific Clear, holds an Approved Clearing House licence.

Together, the licences allow the group to operate trading, clearing and settlement infrastructure in Singapore.

The acquisition would strengthen HashKey’s institutional capabilities across trading, custody, payments, clearing and settlement while expanding its regulated presence in Singapore.

The transaction remains subject to due diligence, definitive agreements and MAS approval.

HashKey has not signed a final agreement and cautioned that the deal may not proceed.

If completed, the acquisition is expected to constitute a notifiable transaction under Hong Kong listing rules.

Featured image: Edited by Fintech News Singapore/Malaysia, based on image by Magnific