Upbit cements its Singapore presence with a Major Payment Institution (MPI) license

Upbit cements its Singapore presence with a Major Payment Institution (MPI) license
фото показано с : invezz.com

2024-1-9 15:16

Upbit’s Singapore subsidiary has received a Major Payment institution license from the nation’s Monetary Authority of Singapore (MAS). That will allow the cryptocurrency exchange to grow its business in line with the regulatory framework.

Breaking News :#Upbit #Singapore gets key license, boosts institutional presence. pic.twitter.com/Nx3bdX1R0z

— The market periodical (@tmp_periodical) January 8, 2024

The latest development comes months after the regulator allowed the exchange to offer cryptocurrency services.

Upbit Singapore to offer regulated services

The press release revealed that the Monetary Authority of Singapore granted the trading firm an MPI license. The new certificate positions the exchange among the few trading platforms that run according to Singapore’s strict regulatory framework.

The exchange can now benefit from Singapore’s status as a global cryptocurrency hub and the country’s robust regulations. Upbit will build its reputation as a legal exchange to serve institutional and retail customers.

Upbit Singapore CEO and founder Alex Kim trusts the platform’s top-notch trading solutions will propel Singapore’s flourishing crypto market. He added,

“This license marks an important step for us to serve institutional and retail clients with cutting-edge digital asset solutions contributing to Singapore’s thriving digital ecosystem.”

With the MPI certificate, Upbit Singapore joins the list of regulated crypto businesses in Upbit APAC’s portfolio. Upbit APAC is a renowned digital asset group operating licensed exchanges in Singapore, Thailand, and Indonesia.

Singapore establishes itself as a global hub for digital coins while prioritizing legitimacy. Recently, the nation introduced updated rules on Digital Payment Token services, banning retail clients from using credit cards when purchasing cryptocurrencies.

The post Upbit cements its Singapore presence with a Major Payment Institution (MPI) license appeared first on Invezz

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Singapore Dollar (SGD) на Currencies.ru

$ 83369.32 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $83369.32 - H: $83585.62
Капитализация $0 Rank 99999
Цена в час новости $ 61639.91 (35.25%)

singapore payment institution upbit major license exchange

Источник: invezz.com

singapore payment → Результатов: 126


Monetary Authority of Singapore Grants Two Licenses to Offer Digital Payment Token Services

Singapore has granted licenses to DBS Vickers, the brokerage arm of DBS Bank Ltd. , and the Australian crypto exchange Independent Reserve to offer digital payment token services. Both the firms were granted an “in principle” approval from the Monetary Authority of Singapore (MAS) under the country’s Payment Services Act in the past two months.

2021-10-2 23:15


Фото:

Binance Stops Fiat Deposits, Crypto Trading, And Crypto Purchases In Singapore

Binance has restricted access for Singapore users who will no longer be able to deposit fiat, carry out spot trading, or swap tokens on its exchange, according to a Monday announcement. Binance referred to the restricted services as Regulated Payment Services, stating these as the reason for halting the services to its Singapore-based customers. “We […]

2021-9-27 17:56


Singapore Regulator Says Binance Unlicensed, Alerts Investors

Singapore’s financial regulator has added Binance to the investor alert list, signifying that the crypto exchange is unlicensed to provide payment services in the nation. The Monetary Authority Of Singapore Adds Crypto Exchange Binance To The Investor Alert List As per a report from Bloomberg, the Monetary Authority of Singapore says Binance doesn’t have a […]

2021-9-3 22:00


Singapore’s DBS Bank Gets Approval from MAS to Offer Crypto Services to Asset Managers & Companies

Singapore’s DBS Bank is the latest to receive approval “in principle” from the Monetary Authority of Singapore (MAS) under the country’s Payment Services Act. DBS Vickers, the bank's brokerage arm, is the one that received the go-ahead from the country’s financial regulator to begin offering crypto services directly to companies and asset managers via its […] The post Singapore’s DBS Bank Gets Approval from MAS to Offer Crypto Services to Asset Managers & Companies first appeared on BitcoinExchangeGuide.

2021-8-13 19:11


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Indonesia forms dedicated committee to strengthen crypto regulation

Indonesia has taken a significant step toward tightening its oversight of the cryptocurrency industry with the establishment of the Crypto Asset Committee. This move by the Commodity Futures Trading Regulatory Agency (Bappebti) aims to enhance the monitoring and regulation of cryptocurrencies, now officially recognized as commodities within the country.

Australia targets personal data of 1.2 million crypto traders

The Australian Taxation Office (ATO) has asked crypto exchanges in the country to hand over the personal data and transaction details of 1. 2 million traders. ATO’s stringent requirement comes amid an increased interest in crypto across Australia, Reuters reported on May 7.

SEC issues Wells Notice to Robinhood Crypto

The US Securities and Exchange Commission (SEC) has issued a Wells Notice against Robinhood, targeting the publicly-traded company’s crypto business. The regulatory news saw Robinhood’s share price fall by about 2.

Phoenix Wallet To Disable Services In the US – Here’s Why

Phoenix Wallet, a Bitcoin wallet provider for Lightning Network payments, has announced its impending removal from US application stores. This development comes as the wallet’s founding company, ACINQ, criticizes the regulation of self-custodial wallets in the US.

Argentina’s financial regulator introduces mandatory registration for all cryptocurrency service providers

Last month Argentina’s financial regulator, Comisión Nacional de Valores, introduced mandatory registration for all cryptocurrency exchanges and brokers operating in Argentina. As crypto service providers begin to get to grips with this new crypto registration rule, this article outlines the critical changes, compliance expectations, and long-term implications in a direct, fluff-free analysis.