Key Takeaways
- Crypto.com to tap into the fintech market of Singapore.
- The firm is willing to continue collaborating with the MAS.
One of the world’s fastest-growing cryptocurrency platforms, Crypto.com is planning to strengthen its roots in Singapore. The platform announced today that they have received in-principle approval from the Monetary Authority of Singapore (MAS) regarding its Major Payment Institution License.
The approval of the same will allow Crypto.com to offer a variety of payment services within the Payment Services Act, including the Digital Payment Token (DPT) services to customers in Singapore.
The Co-Founder and CEO of Crypto.com, Kris Marszalek, “The Monetary Authority of Singapore sets a high regulatory bar that cultivates innovation while protecting consumers, and their in-principle approval of our application reflects the trusted and secure platform we have worked diligently to build.”
He further says that he is looking forward to collaborating with the MAS as the market in Singapore for fintech innovation is known for its “well-regulated business environment.”
