Crypto.com mentioned June 1 that it has secured a Main Fee Establishment (MPI) license for Digital Fee 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 clients in Singapore, providing a necessary alternative to broaden its consumer base.
Kris Marszalek, CEO of Crypto.com, expressed the corporate’s dedication to upholding the digital property sector’s integrity.
Chin Tah Ang, Common 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 sequence of comparable recognitions Crypto.com has secured throughout numerous 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 Belongings Regulatory Authority (VARA); and different regulatory approvals in South Korea, Australia, Italy, Greece, Cyprus, the Cayman Islands, and the USA, amongst others.
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