Sygnum Singapore Gets MPIL Approved by MAS
The Monetary Authority of Singapore (MAS) has approved Sygnum Singapore’s application for a Major Payment Institution License (MPIL). This license allows the bank to offer regulated cryptocurrency brokerage services to its customers. Sygnum, the Southeast Asian branch of Switzerland’s crypto-friendly Sygnum bank, plans to expand its digital asset services in Singapore. The expansion comes after […]
Circle Receives Digital Token License in Singapore
Circle, the creator of the USDC stablecoin, is extending its reach in the Asian market with a new license to conduct business in Singapore. The Monetary Authority of Singapore (MAS), the country’s central bank, has granted Circle Singapore, affiliated with Circle Internet Financial, a Major Payment Institution (MPI) license. With the MPI license, Circle Singapore […]
Crypto.com Gets Singapore License for DPT Services
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 will enable Crypto.com to continue offering its DPT services, including e-money issuance, account issuance, and money transfers, to customers in Singapore. MAS grants the MPI license as regulatory approval to provide payment services […]
Babel Finance gets Extended Time to Pay Creditors
Troubled cryptocurrency lending company Babel Finance has received more than a year to repay debts to its creditors in Singapore after suspending withdrawals in June 2022. Bloomberg reported on April 18 that a court in Singapore had extended Babel Finance’s creditor protection by three months. Babel co-founder and former CEO Flex Yang said the moratorium […]
Coinbase launches zero-fee local bank transfers in Singapore
Coinbase now offers free cash deposits and withdrawals using regional bank transfers for its Singaporean customers. Customers can now transfer money for free via Standard Chartered bank to and from their Coinbase accounts. As part of its worldwide development strategy, the cryptocurrency exchange Coinbase has made free fiat deposits and withdrawals available to its Singaporean […]