Crypto.com joins ranks of licensed payment institutions in Singapore
Singapore's Crypto.com expands its regulatory achievements by securing MPI license for DPT services from MAS. The Singapore-based cryptocurrency exchange, Crypto.com, announced on June 1 that it has been granted a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services by the Monetary Authority of Singapore (MAS). The announcement comes after Crypto.com received its in-principle approval from MAS in June 2022. With the MPI licence, Crypto.com is now authorized to offer its DPT services to customers in Singapore. The Monetary Authority of Singapore serves as the central bank and primary financial regulatory authority in Singapore. It is responsible for overseeing and implementing legislation related to money, banking, insurance, securities, and the overall financial industry, including the issuance of currency. This latest announcement adds to Crypto.com's track record of securing regulatory license s. Crypto.com has also achieved registration as a Di...