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Crypto.com mentioned June 1 that it has secured a Main Cost Establishment (MPI) license for Digital Cost Token (DPT) providers from the Financial Authority of Singapore (MAS), the nation’s chief monetary regulatory physique.
This regulatory approval follows an “in-principle” approval granted to the agency by MAS in June 2022.
The brand new license permits Crypto.com to supply its DPT providers to prospects in Singapore, providing a vital alternative to broaden its person base.
Kris Marszalek, CEO of Crypto.com, expressed the corporate’s dedication to upholding the digital belongings sector’s integrity.
Chin Tah Ang, Basic Supervisor of Crypto.com’s Singapore operations, reiterated that Singapore continues to be an important hub for blockchain and fintech innovation.
This regulatory approval follows a collection of comparable recognitions Crypto.com has secured throughout varied jurisdictions. These embody licenses for e-money issuance, account issuance, cross-border and home cash switch providers from MAS; registration as a Digital Asset Service Supplier (DASP) in France; approval as a crypto asset enterprise within the UK; licensing from the Dubai Digital Property Regulatory Authority (VARA); and different regulatory approvals in South Korea, Australia, Italy, Greece, Cyprus, the Cayman Islands, and america, amongst others.
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