Home Regulation Crypto.com secures Major Payment Institution license in Singapore

Crypto.com secures Major Payment Institution license in Singapore

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Crypto.com said June 1 announced that it has secured a Major Payments Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS), the country’s main financial regulator.

This regulatory approval follows the “in principle” approval granted to the company by MAS. June 2022.

The new license will allow Crypto.com to offer DPT services to customers in Singapore, providing a significant opportunity to grow its user base.

Crypto.com CEO Kris Marszalek has announced the company’s commitment to preserving the integrity of the digital assets sector.

Chin Tha Ang, Head of Singapore Operations at Crypto.com, reiterated that Singapore remains an important hub for blockchain and fintech innovation.

This regulatory approval follows a series of similar approvals that Crypto.com has secured across various jurisdictions. These include e-money issuance, account issuance, cross-border money transfer service and domestic money transfer service licenses from MAS. Registration as a Digital Asset Service Provider (DASP) in France. Approval as a cryptocurrency business in the UK. Licensed from Dubai Virtual Assets Regulatory Authority (VARA). Other regulatory approvals have been obtained in South Korea, Australia, Italy, Greece, Cyprus, Cayman Islands and the United States, among others.

Crypto.com Secures Major Clearing House License in Singapore This article first appeared on CryptoSlate.

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