Cryptocurrency exchange Crypto.com announced that it has received a Major Payment Institution (MPI) license to provide digital payment token (DPT) services from the Monetary Authority of Singapore (MAS).
The license will allow the cryptocurrency platform to continue providing digital payment token services to its users in Singapore, according to Crypto.com's official website.
"The Monetary Authority of Singapore is recognized globally as a regulator that ensures responsible innovation of the digital assets sector," said Kris Marszalek, CEO of Crypto.com.
"We are proud to receive the licence from a regulator that prioritizes consumer protection, safety, and security," he added.
Crypto.com's General Manager in Singapore, Chin Tah Ang, said the exchange will continue to cooperate with MAS on security and crypto, and the new license only underscores its commitment to developing the Web3 community in the multicultural city-state.
"Singapore continues to be a hub for blockchain and fintech innovation," Chin Tah Ang said.
We previously reported that Crypto.com had expanded its services to allow clients to deposit and withdraw funds in euros, as well as provide access to trading pairs with euros.
The Crypto.com cryptocurrency exchange began operations in 2018, offering its clients a wide arsenal of analytical tools and not limiting traders to trading strategies. In addition to actual leveraged cryptocurrency trading, traders can earn by investing in the Supercharger program.
