The exchange of cryptocurrencies based in singapore 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).
He advertisement comes after Crypto.com received MAS approval in principle in June 2022. With the MPI license, Crypto.com is now authorized to offer its DPT services to clients in Singapore.
The Monetary Authority of Singapore acts as the central bank and principal financial regulatory authority for Singapore. It is responsible for supervising and enforcing legislation related to money, banking, insurance, securities and the financial industry in general, including the issuance of currencies.
This latest announcement adds to Crypto.com’s track record in obtaining regulatory licenses. The exchange has also been granted registration as a digital asset service provider by France’s Autorité des Marchés Financiers, and has been granted registration as a crypto asset company by the UK’s Financial Conduct Authority.
In addition, Crypto.com received approval from the Dubai Virtual Assets Regulatory Authority for its minimum viable product preparatory license, and acquired Virtual Asset Service Provider and Electronic Financial Transactions Act registration in South Korea. The company has also obtained registration approval as a digital currency exchange provider and independent distributor of remittances in Australia from the Australian Center for Transaction Reporting and Analysis, as well as an Australian Financial Services License and an Australian Credit License from the Australian Commission. of Securities and Investments. Crypto.com’s regulatory achievements also extend to registration in Italy, of the Organismo Agenti e Mediatori; in Greece, from the Hellenic Capital Market Commission; and in Cyprus, from the Securities and Exchange Commission.
Besides, The cryptocurrency exchange has recently expanded its user base in the United States, allowing users to use More than 30 cryptocurrencies to make purchases in a selection of more than 150 renowned consumer brands through your application. It launched this feature on May 31.
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