Singapore Crypto.com Secures Major Payment Institution Licence: A Game Changer
In a major development, Crypto.com announced that it has secured the Singapore Major Payment Institution (MPI) licence, marking a significant milestone for the cryptocurrency platform in the region. This licence allows Crypto.com to expand its digital payment token (DPT) services and offerings within Singapore, operating under the regulatory purview of the Monetary Authority of Singapore (MAS).
Crypto.com said June 1 that it has secured a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS). This signifies a crucial step in their commitment to providing secure and compliant crypto services to Singaporean users.
Crypto.com has now received its Major Payment Institution (MPI) licence, enabling them to provide a wider range of payment services related to digital assets, including account issuance, payment facilitation, and digital payment token transfers.
J – Crypto.com announced today that it has obtained this prestigious licence, reinforcing their dedication to regulatory compliance and responsible innovation within the cryptocurrency space. This allows Crypto.com to cater to a larger audience in Singapore seeking access to secure and regulated digital asset solutions.
According to the announcement, the company was able to obtain a major licence, demonstrating its ability to meet the stringent requirements set by MAS and showcasing its commitment to upholding the highest standards of security and compliance.
This MPI licence positions Crypto.com as a leading player in Singapore's rapidly evolving digital asset landscape. It ensures users can access Crypto.com's services with greater confidence, knowing they are operating within a regulated framework. The licence will further bolster Crypto.com’s commitment to growing Singapore’s FinTech ecosystem.
Stay tuned for more updates on how Crypto.com's MPI licence will shape the future of digital payments in Singapore.