HashKey Holdings Limited linked a possible Singapore exchange acquisition to plans for institutional trading and clearing services, but its Sept. 29 filing still described the transaction as proposed and conditional.
A subsidiary signed a nonbinding framework agreement on July 22 to explore buying all equity in Asia Pacific Exchange Pte. Ltd., or APEX, HashKey said in a July 29 announcement. The agreement concerned a possible purchase and did not complete an acquisition. APEX holds an approved exchange license, while APEX group member Asia Pacific Clear Pte. Ltd. holds an approved clearing-house license.
HashKey said a completed deal would support services for institutional customers across trading, custody, payments, clearing and settlement. The company also presented the proposal as a way to strengthen its regulated presence in Singapore. The July announcement set out those ambitions but gave no operating timetable.
In results released Aug. 27, HashKey reported that institutional customers accounted for HK$231.5 billion of platform trading volume in the first half of 2026, or 82% of the HK$282.2 billion total.
HashKey’s Sept. 29 interim report said completion would depend on due diligence, definitive transaction documents and relevant regulatory and corporate approvals, including approval from the Monetary Authority of Singapore. The company said the acquisition might not proceed. As of that filing, its cost and material terms had not been determined, and no decision date was stated.
