Crypto exchange Crypto.com revealed it has obtained Major Payment Institution (MPI) licence for Digital Payment Token (DPT) from the Monetary Authority of Singapore (MAS).
The new authorization follows the in-principle approval from MAS the company gained in June 2022. The new license allows Crypto.com to continue to provide its Digital Payment Token (DPT) services to customers in Singapore.
Kris Marszalek, CEO of Crypto.com, said:
The Monetary Authority of Singapore is recognized globally as a regulator that ensures responsible innovation of the digital assets sector. We are proud to receive the licence from a regulator that prioritizes consumer protection, safety, and security. We look forward to continuing to collaborate with MAS and leading at the forefront of crypto in our home market of Singapore.
Chin Tah Ang, General Manager, Singapore of Crypto.com, said:
Singapore continues to be a hub for blockchain and fintech innovation. The Major Payment Institution licence underscores our ongoing commitment to build with the Web3 community in Singapore.
Today’s announcement is part of Crypto.com’s recent regulatory license momentum. Last year, the crypto exchange registered as Digital Asset Service Provider (DASP) with the Autorité des marchés financiers (AMF) in France and received registration approval as a cryptoasset business from the UK Financial Conduct Authority (FCA).
