Crypto.com Licenses “Digital Payment Token” from Singapore Regulator | coindesk JAPAN | Coindesk Japan

The crypto asset (virtual currency) exchange Crypto.com, which had obtained approval in principle from the Singapore regulatory authority in June last year, has now completed the licensing process.

Crypto.com announced on June 1 that it has obtained a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS) for its “Digital Payment Token”.

Singapore-based exchange CEO Kris Marszalek said: “MAS is globally recognized as a regulator that ensures responsible innovation in the crypto space.”

Last year, the MAS pledged to deal “brutally, mercilessly and harshly” against misconduct in the crypto industry, cementing its reputation as a regulator that sets a high bar for approving companies. That said, many prominent crypto firms, including Coinbase and Blockchain.com, also received basic approval from the MAS last year.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜Original: Crypto.com Receives Digital Token License in Singapore