Crypto.com announced that it has received formal approval from the Monetary Authority of Singapore to offer Digital Payment Token services. This license allows Crypto.com to develop and launch a digital payment system.
Crypto.com has been given the go-ahead by Singapore’s Monetary Authority to operate a digital payment system. This license will allow Crypto.com to develop and launch its digital payment service.
CEO of Crypto.com, Kris Marszalek, 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.
General Manager, Singapore of Crypto.com, Chin Tah Ang, 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.
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