TL;DR Breakdown
- Crypto.com has secured a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS).
- This license permits Crypto.com to continue to provide its DPT services to Singapore-based customers, strengthening its position in the market.
- The company’s CEO and General Manager, Singapore express commitment to safety, security, consumer protection, and continued collaboration with MAS.
As a pioneering figure in the blockchain revolution, Crypto.com is surging ahead once again. In a strategic expansion of its services in Singapore, the renowned cryptocurrency platform has successfully secured the Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS).
This milestone fortifies Crypto.com’s stronghold in the crypto-verse, ensuring that it continues to serve its user base in Singapore unimpeded.
A Leap Forward in the Home Market
The reception of this license isn’t merely a step forward in regulatory compliance, but a sign of Crypto.com’s commitment to the future of digital assets in Singapore.
As Kris Marszalek, CEO of Crypto.com, pointed out, the granting of this license is a testament to their unwavering resolve to lead the crypto-charge in their home market.
He said, “We are proud to receive the license from a regulator that prioritizes consumer protection, safety, and security. We look forward to continuing to collaborate with MAS and leading at the forefront of crypto in our home market of Singapore.”
The company has been duly recognized by the MAS, a regulator globally renowned for its dedication to fostering responsible digital assets innovation.
The attainment of this license speaks volumes about Crypto.com’s commitment to these shared principles, including consumer protection, safety, and security.
Crypto.com deepening roots in Singapore’s blockchain landscape
This development has been met with equally positive sentiments from other members of the Crypto.com team. Chin Tah Ang, General Manager, Singapore, believes that the Major Payment Institution license is reflective of their unyielding dedication to work within the Singapore Web3 community.
“Singapore continues to be a hub for blockchain and fintech innovation,” Ang said. “The Major Payment Institution license underscores our ongoing commitment to build with the Web3 community in Singapore.”
Today’s announcement builds on Crypto.com’s impressive regulatory track record. Since its inception in 2016, the company has secured regulatory approval from prominent financial authorities in the UK, France, South Korea, Dubai, Australia, Italy, Greece, Cyprus, and the Cayman Islands, among others.
It has also received pre-registration undertakings with the Ontario Securities Commission and Canada Securities Administrators. With a loyal customer base of over 80 million worldwide, Crypto.com continues to live up to its vision: Cryptocurrency in Every Wallet.
Through its commitment to innovation and empowerment, Crypto.com is accelerating the adoption of cryptocurrency and fostering the creation of a more equitable digital ecosystem.
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