Crypto.com has announced today that it has received its Major Payment Institution (MPI) licence for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS).
It’s a step that can be a key boost in Crypto.com’s expansion plans as it strengthens its footprint in the Asian market.
As a result of the licence, the cryptocurrency exchange company can continue to extend Token services to customers in Singapore.
Kris Marszalek, CEO of Crypto.com, stated on the move: “The Monetary Authority of Singapore is recognised globally as a regulator that ensures responsible innovation of the digital assets sector.
“We are proud to receive the licence from a regulator that prioritises 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.”
The announcement continues Crypto.com’s regulatory momentum, having passed hurdles in the likes of Dubai and France as the firm continues global expansion.
“Singapore continues to be a hub for blockchain and fintech innovation,” added Chin Tah Ang, General Manager, Singapore of Crypto.com. “The Major Payment Institution licence underscores our ongoing commitment to build with the Web3 community in Singapore.”