HashKey Signs Framework Agreement to Acquire 100% of Asia Pacific Exchange Shares

HashKey subsidiary signs non-binding deal for full stake in AP Exchange, a Singapore-based financial infrastructure firm. Transaction pending MAS approval and due diligence.

Woofun AI reports that HashKey Holdings Limited announced its subsidiary HKDAG (Singapore) Pte. Ltd. entered into a non-binding framework agreement on July 22 to acquire 100% of Asia Pacific Exchange Pte. Ltd. The agreement is with Zhu Yuchen, who indirectly holds 50.925% of the target. The target group operates financial market infrastructure in Singapore, holding "authorized exchange" and "authorized clearing house" licenses. The acquisition aims to establish a regulated presence in Singapore, aligning with HashKey's diversified fintech strategy. The deal is subject to legal, financial, and operational due diligence, as well as approval from the Monetary Authority of Singapore (MAS) and final document signing. Key terms, including consideration, remain undetermined, and the transaction may not proceed.