Crypto.com licensed for digital tokens in Singapore.
The cryptocurrency exchange Crypto.com has successfully completed the licensing process in Singapore. The exchange had obtained in-principle approval in June last year and has now received its Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS), as announced by the exchange on Thursday.
Kris Marszalek, the CEO of the Singapore-based exchange, stated that “The Monetary Authority of Singapore is recognized globally as a regulator that ensures responsible innovation of the digital assets sector.”
Despite the reputation of the regulator for setting a high bar for approving companies and being “brutal and unrelentingly hard” on bad behavior in the crypto industry, a number of prominent crypto companies, including blockchain and Blockchain.com, have also received in-principle approval from the regulator in the last year.
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This article was edited by Parikshit Mishra.
