Crypto.com Secures Major Payment Institution Licence from MAS

The global crypto platform Crypto.com announced today that it has been granted the Major Payment Institution (MPI) licence for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS).

The crypto firm has received in-principle approval in November 2022 for the MPI license from the MAS, then approval in November 2022.

The license enables Crypto.com to offer e-money issuance, account issuance, cross border and domestic money transfer services.

"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. We look forward to continuing to collaborate with MAS and leading at the forefront of crypto in our home market of Singapore."

"Singapore continues to be a hub for blockchain and fintech innovation," said Chin Tah Ang, General Manager, Singapore of Crypto.com. "The Major Payment Institution licence underscores our ongoing commitment to build with the Web3 community in Singapore."

In March, Crypto.com has obtained its Minimal Viable Product (MVP) Preparatory License​ from Dubai's Virtual Assets Regulatory Authority (VARA), which allows firm to extend its approved suite of duly regulated virtual assets activities spanning a range of crypto exchange services (spot and derivatives), brokerage, margin/leverage trading, and OTC offerings around settlements for institutional investors.