- Crypto.com obtains Major Payment Institution license for Digital Payment Token services in Singapore.
- CEO of Crypto.com appreciates MAS as a globally recognized regulator fostering responsible innovation.
- Crypto.com emphasizes commitment to collaboration with MAS and leading in Singapore’s fintech innovation.
Wall Street Journal reported after receiving initial approval in June of last year, that the cryptocurrency exchange Crypto.com has successfully completed its licensing process in Singapore.
On Thursday, June 1, Crypto.com announced that it had obtained its Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS).
Kris Marszalek, CEO of Crypto.com, expressed his appreciation for the Monetary Authority of Singapore’s global recognition as a regulator that fosters responsible innovation in the digital assets sector.
Marszalek also highlighted the pride in receiving the license from a regulator that prioritizes consumer protection, safety, and security. He further emphasized the company’s commitment to collaborating with MAS and playing a leading role in the cryptocurrency space within their home market of Singapore.
Meanwhile, Chin Tah Ang, General Manager of Crypto.com Singapore, added:
Singapore continues to be a hub for blockchain and fintech innovation.
Ang emphasized the significance of obtaining the Major Payment Institution license, which reinforces the company’s steadfast dedication to collaborating with the Web3 community and contributing to the development of Singapore’s blockchain ecosystem.
Last year, the MAS made a strong commitment to take strict action against misconduct within the cryptocurrency industry, solidifying its reputation as a regulator that maintains high standards when approving companies. Despite this stance, several prominent crypto companies, such as Coinbase (NASDAQ:COIN) and Blockchain.com, also obtained in-principle approval from the regulator during the same period.
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