Circle Expands Circle Mint to Singapore with MAS Compliance

The post Circle Expands Circle Mint to Singapore with MAS Compliance appeared first on Coinpedia Fintech News

Core Feature in Singapore offers no minting fees, eliminating the added risk, extra fees, and long transaction times associated with brokers and resellers.

Expansion of Circle Mint in Singapore is the gateway to the world of digital currencies in the Asia-Pacific region, enabling businesses to create their own stablecoins with zero minting fees, instant availability, and secure financial activities.

Widely used stablecoin network Circle has expanded its services to Singapore with the launch of Circle Mint, a platform that enables the creation and issuance of digital currencies. Circle Mint’s launch in Singapore follows the company’s successful entry into the European market earlier this year. With Circle Mint, businesses and organizations in Singapore can now easily build and manage their own digital currencies, providing new opportunities for innovation and growth in the region’s digital economy.

Circle Mint’s Digital Wallet is Not Insured by FDIC or SIPC

Circle Mint, a service offered by Circle Internet Financial, LLC, is not a traditional bank account. It is a digital wallet that allows users to store, send, and receive cryptocurrencies and it is not insured by the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation (SIPC), or any other government agency, insurance fund, person, or entity. This means that users’ funds are not protected in the event of a bank failure, securities fraud, or other financial loss. It is a licensed money transmitter, and users can view a list of its licenses on the company’s website.

Benefits of using Circle Mint in Singapore

• Zero minting fees: There are no fees to mint stablecoins on Circle Mint.
• Instant availability: stablecoins are available to use immediately after they are minted.
• Secure financial activities: Circle Mint is a regulated platform that is committed to the security of its customers’ funds.
• Easy to use: Circle Mint is a user-friendly platform that can be used by businesses of all sizes.

In summary, Circle Mint’s launch in Singapore provides businesses with a cost-effective and efficient way to create and manage their own digital currencies.