Crypto Brokerage Receives Institution License From Singapore

The company had received an in-principle approval from the Monetary Authority of Singapore last year.

AccessTimeIconAug 8, 2023 at 1:18 p.m. UTC

Crypto brokerage received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS), according to a press release on Monday. The license allows it to provide regulated digital payment token (DPT) services to its global institutional and accredited investor customers.

The company had received an in-principle approval from MAS last year.

"Singapore represents a large, profitable trading hub for," the company said in its press release. The country currently serves as's Southeast Asia headquarters.

Singapore has awarded several licenses to crypto companies lately. Both crypto exchange and stablecoin issuer Circle received digital token licenses from MAS in June.

Edited by Nelson Wang.


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Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.