- Crypto.com Obtains Main Fee Establishment License for Digital Fee Token Providers in Singapore.
- Crypto.com CEO appreciates MAS as a globally acknowledged regulator fostering accountable innovation.
- Crypto.com emphasizes dedication to collaboration with MAS and management in Singapore’s fintech innovation.
The Wall Road Journal reported after receiving preliminary approval in June final 12 months that cryptocurrency alternate Crypto.com had efficiently accomplished its licensing course of in Singapore.
On Thursday, June 1, Crypto.com introduced that it had obtained its Main Fee Establishment (MPI) license for Digital Fee Token (DPT) companies from the Financial Authority of Singapore (MAS).
Kris Marszalek, CEO of Crypto.com, expressed his gratitude for the worldwide recognition of the Financial Authority of Singapore as a regulator that promotes accountable innovation within the digital asset business.
Marszalek additionally highlighted satisfaction in receiving the license from a regulator that prioritizes client safety, security and safety. He additional highlighted the agency’s dedication to accomplice with MAS and play a number one position within the cryptocurrency house inside their dwelling market of Singapore.
In the meantime, Chin Tah Ang, Managing Director of Crypto.com Singapore, added:
Singapore continues to be a hub for blockchain and fintech innovation.
Ang highlighted the significance of acquiring the Main Fee Establishment license, which reinforces the corporate’s unwavering dedication to collaborating with the Web3 group and contributing to the event of Singapore’s blockchain ecosystem.
Final 12 months, MAS made a robust dedication to cracking down on misconduct inside the cryptocurrency business, cementing its status as a regulator that maintains excessive requirements when buying and selling. enterprise approval. Regardless of this stance, a number of prime crypto corporations, similar to Coinbase and Blockchain.com, additionally gained in-principle approval from the regulator throughout the identical interval.
