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Singapore's Approval of Digital Payment License Application Will Strengthen Its Position as Asia's Crypto Financial Center

Amy Liu

Summary: The Financial Supervisory Authority of Singapore (MAS) received 170 applications for digital payment token (DPT) licenses from service providers. MAS has notified multiple digital payment service providers that they will obtain a license to operate in Singapore. This development will increase the number of various crypto companies moving to Singapore and consolidate its position as ...

The Financial Supervisory Authority of Singapore (MAS) received 170 applications for digital payment token (DPT) licenses from service providers. MAS has notified multiple digital payment service providers that they will obtain a license to operate in Singapore. This development will increase the number of various crypto companies moving to Singapore and consolidate its position as the leading crypto financial center in Asia. So far, two applications have been rejected, and another 30 applications have been withdrawn because they did not meet the anti-money laundering standards.

By Amy Liu

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Link: Singapore's Approval of Digital Payment License Application Will Strengthen Its Position as Asia's Crypto Financial Center   [Copy]
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