The Monetary Authority of Singapore (MAS) has approved three applications for its digital payment token (DPT) license, announced Heng Swee Keat, the city-state’s deputy prime minister.
While MAS did not name the awardees, Crypto.com said that it was one of the recipients. The two other recipients are reportedly Sparrow Exchange and Genesis.
With the new approvals, Singapore now has granted licenses to a total of 14 DPT service providers, including TripleA, Coinhako, and DBS Vickers.
“Singapore remains keen to work with blockchain and digital asset players. We are committed to partner innovative and responsible players to grow the Web 3.0 ecosystem and community in Singapore,” Heng said in a video message at the inaugural Point Zero Forum in Zurich.
He added that regulators and fintech firms share a common goal – to use finance and tech to create value and improve lives.
See also: How a Singapore crypto startup became a unicorn in just 2 years
Editing by Deepti Sri and Joy Tirkey
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