Crypto.com has solidified its presence in Singapore with the receipt of a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS). This license enables the exchange to provide crypto-related services to Singaporean residents.
The approval follows the exchange’s in-principal approval from the Singaporean regulator in June 2022. Kris Marszalek, CEO of Crypto.com, expressed pride in receiving the license from a regulator that prioritizes consumer protection, safety, and security. He also emphasized the exchange’s commitment to collaboration with MAS and its leading position in the Singaporean crypto market.
In addition to the MPI license, Crypto.com acquired an e-money license from MAS in November and registered as a Digital Asset Service Provider (DASP) with the French regulator. The exchange has also obtained registration in the UK and is regulated in various other jurisdictions, including South Korea, Australia, Italy, Greece, Cyprus, the Cayman Islands, and the United States. Crypto.com is currently pursuing licenses in the UAE and Canada as part of its expansion efforts.
The MPI license in Singapore further strengthens Crypto.com’s compliance with regulatory requirements and reinforces its commitment to providing secure and trustworthy crypto services to its growing user base.