Miguel Cordon · · 1 min readCrypto.com receives license to offer digital token services in SG
Photo credit: Crypto.com
Singapore-based Crypto.com has received a major payment institution license from the Monetary Authority of Singapore (MAS). This comes after the company received its in-principle approval from MAS in June 2022.
With this license, the crypto exchange can continue to extend its digital payment token services to customers in the country.
The firm is the latest entrant on the growing list of companies approved by MAS to offer digital payment token services. Other notable licensed players include crypto trading platform Coinhako and fiat-to-crypto payments firm DTC.
Crypto.com has also obtained regulatory approvals or licenses from various other jurisdictions such as France, Dubai, South Korea, Australia, Italy, Greece, Cyprus, Cayman Islands, Canada, the US, and the UK.
Founded in 2016, the company said it has 80 million customers worldwide. Earlier this year, it slashed 20% off its total workforce due to the economic downturn and “unforeseeable industry events.”
See also: How the maker of movie franchise Ah Boys to Men is hopping onto Web3
Editing by Thu Huong Le and Dhania Putri Sarahtika
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
