HashKey Seeks to Acquire Singapore-Based APEX in Expansive Asia Push

HashKey Holdings, Hong Kong's largest licensed crypto exchange, is seeking to acquire Singapore-based Asia Pacific Exchange (APEX) in a move to expand its regulated financial market infrastructure footprint in Asia.

The proposed acquisition would allow HashKey to bolster its institutional trading infrastructure by adding regulated exchange and clearing capabilities. APEX operates a licensed derivatives exchange in Singapore under an Approved Exchange (AE) licence issued by the Monetary Authority of Singapore (MAS), making it one of only three market participants currently holding both licences.

HashKey, which debuted on the Hong Kong Stock Exchange in December 2025 after raising about HK$1.61 billion ($207 million) in an initial public offering priced at HK$6.68 per share, plans to build a broader financial infrastructure covering trading, custody, payments, clearing, and settlement.

The proposed deal remains subject to the execution of definitive agreements, completion of due diligence, and approval from the MAS. HashKey said no definitive agreement has been signed and the transaction may or may not proceed.