Crypto.com said on June 1 that it has obtained a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS), the country’s main financial regulatory body.
This regulatory approval follows an “in-principle” approval granted to the company by MAS in June 2022.
The new license allows Crypto.com to offer its DPT services to clients in Singapore, presenting a vital opportunity to broaden its user base.
Kris Marszalek, CEO of Crypto.com, expressed the company’s commitment to maintaining the integrity of the digital asset industry.
Chin Tah Ang, General Manager of Crypto.com’s operations in Singapore, reiterated that Singapore remains a vital hub for blockchain and fintech innovation.
This regulatory approval follows a series of similar recognitions obtained by Crypto.com in various jurisdictions. These include licenses for electronic money issuance, bill issuance, cross-border and domestic money transfer services from MAS; registration as a Digital Asset Service Provider (DASP) in France; approval as a crypto asset company in the UK; license from the Dubai Virtual Assets Regulatory Authority (VARA); and other regulatory approvals in South Korea, Australia, Italy, Greece, Cyprus, the Cayman Islands and the United States, among others.
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