HashKey looks to purchase Singapore's Asia Pacific Exchange

SINGAPORE — HashKey Holdings has signed a preliminary agreement to acquire Singapore's Asia Pacific Exchange, aiming to expand its regulated financial services business in the city-state, it said in a stock exchange filing on Wednesday (July 29).

The Hong Kong-listed fintech company said its Singapore unit signed the non-binding agreement on July 22 with Asia Pacific Exchange and its main shareholder, Zhu Yuchen.

Asia Pacific Exchange holds a Singapore licence to run an approved exchange, while its unit Asia Pacific Clear holds a licence to operate a clearing house, which handles the completion of trades, according to the filing.

The proposed deal would help HashKey expand its regulated business in Singapore, it said.

HashKey said the deal is subject to legal, financial and business checks, final negotiations and approval from the Monetary Authority of Singapore.

No final purchase agreement has been signed, and the price and payment terms have not been decided, HashKey said.