Crypto.com joins ranks of licensed payment institutions in Singapore
The Singapore-based cryptocurrency exchange, Crypto.com, announced on June 1 that it had been granted a major payment institution (MPI) license for digital payment token (DPT) services by the Monetary Authority of Singapore (MAS).
The announcement comes after Crypto.com received its in-principle approval from MAS in June 2022. With the MPI license, Crypto.com is now authorized to offer its DPT services to customers in Singapore.
The Monetary Authority of Singapore serves as Singapore’s central bank and primary financial regulatory authority. It is responsible for overseeing and implementing legislation related to money, banking, insurance, securities and the overall financial industry, including the issuance of currency.
This latest announcement adds to Crypto.com’s track record of securing regulatory licenses. The exchange has also been granted registration as a digital asset service provider by the Autorité des Marchés Financiers in France and as a crypto asset business by the United Kingdom’s Financial Conduct Authority.
Furthermore, Crypto.com received approval for its MVP Preparatory License from the Dubai Virtual Assets Regulatory Authority (VARA) and obtained Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea. The company also secured registration approval as a Digital Currency Exchange Provider and Independent Remittance Dealer in Australia by AUSTRAC, as well as an Australian Financial Services Licence and Australian Credit Licence from ASIC. Crypto.com's regulatory achievements extend to registration in Italy from the Organismo Agenti e Mediatori (OAM), registration in Greece from the Hellenic Capital Market Commission, and registration in Cyprus from the Securities
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