The Monetary Authority of Singapore has approved in principle Crypto.com and 3 other crypto companies. Crypto.com upon receipt of the Prince’s approval for his license to establish the main landscaping. Crypto.com, Genesis and Sparrow Tech join 11 other crypto companies that have received the same approval as the last.
Focus on the approval of Crypto.com
In a statement released by Crypto.comthey claimed that the license, once approved, could allow crypto companies to offer a range of payment services. The service will also include a digital token payment service for customers in Singapore.
Any entity wishing to provide any type of payment service in Singapore must first obtain the appropriate license. This andUnder the Payment Services Act. The type of license depends on the risk and the service of four services and is agreed by MAS. In short, the main establishment payment license of Crypto.com allows him to provide payment services without any threshold.
Kris Marszalek, co-founder and CEO of Crypto.comcalled Singapore a booming fintech market and wanted to work with MAS to expand its local roots. outside, Crypto.com also recently received provisional approval of the dubai Virtual assets Authority for his license Vvirtual assets MVP.
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The environment crypto singapore prosperity
Deputy Prime Minister heng soft Keat I said that Singapore is keen to cooperate with blockchain and digital asset players. On point Zero Zürich Forum, soft Keat The intention of the workers with the actors responsible for the Web 3.0 community is reiterated. likewise, Genesis and sparrow Technology are under-Licence the rest.
11 other crypto companiesNope PaxosTriple A and Hodlnautwere also cleared by MAS last month. The Singapore-based blockchain company, chintaito obtain a capital markets service license.
By the way, today is also the first day of Asia Crypto Expo in Singapore. If Singapore can become a hub of crypto innovation, Seoul time will tell.
Bonus: Visa announces the launch of the first crypto cards in Latin America.